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 [...]
Half of UK tech firms need greater support to scale, says report August 10, 2022 Half of the UK’s technology companies are lacking in the support necessary to scale the business, according to a new report today. The UK has a thriving technology space, securing 54 IPOs which have collectively raised £3.2bn – with 37 of these taking place last year, the report by Tech Nation, a body for UK [...]
Apple supplier Foxconn ‘cautious’ about demand as inflations spreads August 10, 2022 Taiwanese Apple supplier Foxconn is “cautious” about upcoming demand, supply chains and operating performance, it’s chairman said today, as inflation spreads and tensions with China rise. Foxconn, also known as Hon Hai Technology Group, is one of the world’s biggest suppliers of semiconductors or computer chips. The Taiwanese tech giant hit a record half-year revenue [...]
Musk sells $7bn worth of Tesla shares as Twitter battle heads to trial August 10, 2022 Elon Musk has sold nearly $7bn (£5.7bn) worth of Tesla shares as his battle with Twitter over his botched takeover heads to court. Musk, tech entrepreneur and the world’s richest man, will head to trial on 17 October. Musk had sold $8.5bn (£7bn) worth of Tesla shares in April, assuring shareholders that he was not [...]
Intel adds pressure onto UK government over lack of computer chip strategy August 10, 2022 Intel has applied pressure on the government to get its semiconductor strategy published, as the UK continues to miss out on inward investment. The US passed a $52bn subsidy package to computer chipmakers just last month, following the European Union’s €45bn cash pot announced in January – leaving the UK’s lack of domestic policy frustrating [...]
British defence giant Qinetiq wins US military deal just a day after £490m Stateside takeover August 9, 2022 British defence technology giant Qinetiq has snagged a $45m (£37.1m) contract with the US military to provide cyber, intelligence, surveillance and reconnaissance services. The London-listed science and engineering firm, which will also provide communications, control and computers, over a one-year base period, with the option to extend by four more one-year terms. It comes just [...]
Biopharma snags over £30m windfall from Pfizer’s latest billion-dollar deal August 9, 2022 Life science debt investor Biopharma Credit has snagged a more than £30m windfall thanks to Pfizer’s latest billion-dollar deal. Pfizer, the US pharmaceutical giant behind one of the world’s most successful Covid-19 vaccines, confirmed yesterday that it has bought Global Blood Therapeutics for $5.4bn (£4.4bn), as the US pharmaceutical giant continues its Covid-19 cash spending [...]