Crypto assets are making divorces tougher than ever before, say lawyers April 29, 2022 Digital assets are making separations tougher than ever before, legal experts told City A.M., as lawyers grapple with rapidly changing valuations and hard-to-trace assets. So-called digital divorces are on the rise, with the Financial Conduct Authority revealing last summer that around 2.3m adults in the UK already hold crypto assets – which is expected to [...]
Elon Musk sells $4bn in Tesla stock amid Twitter takeover April 29, 2022 Elon Musk has sold around $4bn (£3.2bn) worth of Tesla stock, a security filing has revealed, as the eccentric billionaire preps for his Twitter takeover. Musk, the man behind SpaceX, sold the shares over the past few days, adding in a tweet that he does not plan to sale any further shares. Tesla’s shares closed [...]
Amazon posts first quarterly loss since 2015 as higher costs and lower sales hit bottom line April 29, 2022 Shares in Amazon have plummeted after the e-commerce giant posted its first quarterly loss in seven years, as the firm faced a litany of challenges that led to higher costs and lower sales. The Seattle headquartered firm posted its first quarterly loss since 2015, as staff shortages and inflationary pressures increased its costs and the [...]
Apple gears up for another EU antitrust fine for mobile wallet April 28, 2022 Apple is set to be whacked with fresh European antitrust charges next week after it was accused of restricting rivals from accessing mobile payment systems. As reported by the Financial Times, the world’s most valuable firm will be accused of breaking EU law by unfairly blocking third party apps from the wallet. Apple currently requires [...]
Merck raises full-year forecasts after recent $5bn sales surge April 28, 2022 Merck’s sales have surged more than $5bn (£3.9bn) in the first few months of this year, carried by the popularity of its cancer drug and Covid-19 pill. The US pharmaceutical giant enjoyed a 50 per cent jump in sales to $15.9bn (£12.6bn), up from $10.6bn (£8.4bn) in the first quarter of last year. Merck, the [...]
Brexit-proof: London races ahead of all European tech rivals as record 18,500 new startups flock to the capital April 28, 2022 The number of new tech companies incorporated in London jumped 94 per cent last year, it has emerged. A total of 18,549 tech businesses were incorporated in London in 2021, according to an analysis of data held by Companies House, up from 9,572 in 2020. London accounted for the highest number of incorporations in 2021, [...]
Exclusive: Fintech faces a ‘dystopian future’ as software fighting software will cause fatal disruption April 28, 2022 Fintechs are facing a ‘dystopian future’ with software fighting software threatening major disruption later this year. In the software marketplace, Software-as-a-Service (SaaS), where software is supplied online to businesses on a subscription basis, has become endemic. Now in 2022 financial criminals are taking this concept to a new level, with Fraud-as-a-Service. Fraud as a Service [...]
Founder culture is a form of tyranny April 28, 2022 Elon Musk may or may not buy Twitter. It was revealed this week that the sale, apparently agreed, has a $1bn break clause. If that sounds like a lot, remember that $1bn is small change to Elon. By my calculation, it is to him what the membership fee at my local, council-run swimming pool is [...]
All eyes on Apple and Amazon as quarterly results loom April 27, 2022 With the dismal performance of many big US firms in the past few weeks, all eyes are on Amazon and Apple, who are due to post their quarterly results today.
British rocket firm urges Iceland to cut the red tape for Europe’s largest launch to date April 27, 2022 British rocket company Skyrora has urged Iceland’s government to ease up on the unnecessary red tape which is currently blocking Europe’s largest rocket launch. The rocket company has called on the government to grant a licence which would end months of delays – and help the UK go ahead with its first launch from British [...]