Darktrace hikes profit margin forecast on bumper customer growth July 19, 2022 Cybersecurity giant Darktrace hiked its full-year profit margin forecast to 19.5 per cent today as it said it expected a surge in revenues to $417m for the year to June.
Google could face £920m in damages as class action gets green light July 18, 2022 The UK competition tribunal gave group action against Google the green light today, which could cost the tech giant as much as £920m in damages if successful.
UK computer chip firm files lawsuit against rival firm amid £4bn takeover July 18, 2022 One of the UK’s largest computer chip manufacturers has filed a US lawsuit against an Israeli rival semiconductor company which is currently undergoing a billion-dollar takeover. London-listed IQE has accused Tower Semiconductor of “unlawfully” getting hold of IQE’s patents for its silicon technology, which is used in 5G tech. Patrick Wheeler, committee member of the [...]
Win for Facebook: Judge orders UK competition watchdog to revisit Meta Giphy sale July 18, 2022 Judges have called on the UK competition watchdog to revisit its ruling on the Competition and Markets Authority's (CMA) ruling that Meta should sell Giphy.
Rising star Dufrain gets City vote of confidence as private equity investor PEP checks in with fresh cash July 18, 2022 Data management and analytics firm Dufrain confirmed this morning it has agreed fresh funding from Phoenix Equity Partners, a private equity investor in medium-sized UK companies. The cash will be used to fuel the next stage of its growth as part of a management buyout, the firm said. Dufrain has so far delivered year-on-year revenue [...]
Marks & Spencer pushes further into tech as high street giant extends 15-year old pact with Flooid July 18, 2022 UK high street retailer Marks & Spencer confirmed this morning it has extended its agreement with Flooid for the provision of store point-of-sale and unified commerce platform basket services for up to another five years. Flooid, formerly PCMS Group, agreed with Marks & Spencer in 2007 to supply software to run point-of-sale and self-checkouts across [...]
UK and South Korea to cooperate in space amid growing militarisation July 17, 2022 The UK and South Korea have agreed to cooperate in space, signalling continued steps towards forging a global framework for peaceful and sustainable activity in Earth’s orbit. The deal will see both countries share space-related discoveries, operational knowledge, training and personnel exchanges, as space becomes increasingly commercialised and militarised. “Space is critical to our security, [...]
From translations to chatbots: The future has arrived as UK firms rush to implement artificial intelligence July 17, 2022 It seems the future is knocking as more and more UK businesses are actively looking to implement artificial intelligence, with solutions such as speech recognition, machine translations, chatbots and sentiment analysis being the key drivers. Many businesses are opting to take a low- or no-code approach to implementing artificial intelligence solutions into their operations, according [...]
Pharma giant has another PCR test approved amid massive blow to Covid-19 revenue July 15, 2022 Covid-19 test maker Novacyt has had another PCR test approved for use in the UK, just a week after a damning trading update signalled the need to diversify its portfolio. The London-listed firm, which operates in both the UK and Paris, said the new test removes the need for manual extraction, which it hopes will [...]
Taiwanese iPhone maker confirms over £670m stake in ailing Chinese chip firm July 15, 2022 Taiwanese iPhone manufacturer Foxconn has confirmed today it has bought a considerable stake in China’s top chip maker Tsinghua Unigroup, after media speculation earlier in the week. Foxconn, also known as Hon Hai Precision Industry, said it had bought a 17.8 per cent stake in the beleaguered chip firm, in an investment it added is [...]