Chinese tech giant Tencent reports slowest revenue growth amid Beijing crackdown March 23, 2022 The world’s biggest gaming firm Tencent posted its slowest sales growth this morning amid advertising decline and a crackdown on tech by Beijing.
Exclusive: Deliveroo’s Thea Rogers leaves exec spot to focus on new baby and ‘new chapter’ March 22, 2022 Senior Deliveroo executive Thea Rogers has announced she will be leaving the food delivery firm after five years to focus on her family.
Tech firms lead business growth across Britain as one in four of all high-growth companies are startups March 22, 2022 Of the 175 fastest-growing UK companies – firms that have been able to grow their revenue 20 per cent or more, around a quarter (44) companies are technology companies, according to new research shared with City A.M. today. A significant number of these are fintechs. This includes payments giant Wise, which has managed to grow [...]
Cyber security firm Kape has soaring revenue and profits after high-profile acquisitions March 22, 2022 Leading cyber security firm Kape reported a near 90 per cent increase in revenue following a series of high-profile acquisitions this year. The company announced its final results for 2021 on Tuesday, reporting it brought in $230m (£175m), an increase from $122m (£92m) the previous year. This comes after it completed the acquisition of online [...]
Oxford Nanopore Technology has spike in revenue but losses up more than £100m March 22, 2022 A UK-based technology research firm has had spike in revenue by £30m, but an almost £100m loss from 2020. Oxford Nanopore Technologies, which develops state-of-the-art technology to analyse individual molecules, increased its intake to £134m in 2021, up from £114m. The company’s gross profit was up from 41 per cent to almost 55 per cent, [...]
IT provider Softcat ‘re-doubles’ cyber defences amid Ukraine conflict March 22, 2022 IT infrastructure provider Softcat has been ‘re-doubling’ on its cyber defences amid Russia’s invasion of Ukraine, its CEO confirmed today. The company has been supporting customers with the heightened risk of cyber attacks, CEO Graeme Watt said in a statement, adding that “we are closely evaluating and managing any business risks that may arise as [...]
European Investment Bank-backed climate data firm snags £33m in funding March 22, 2022 Holborn-based climate and energy data analytics company Kayrros has snagged €40m (£33.5m) in its latest funding round, as investors seek to unlock the net-zero benefits of space. The company, backed by the European Investment Bank and BNP Paribas’ VC arm, specialises in geospatial detection technologies – which analyse satellite images to assess the climate costs [...]
Government launches new body to make UK telecoms innovation leader March 22, 2022 The government announced this morning that it will be creating a new body to make the UK "a world-leading centre for telecoms innovation".
Exclusive: Seraphim Space posts UK Finance chairman to board March 22, 2022 Seraphim Space has lured in a new City veteran, City A.M. can reveal today, as the chairman of UK Finance steps onto the space capital firm’s board as a senior advisor. Bob Wigley, formerly chairman of Merrill Lynch – now Bank of America – for Europe, the Middle East and Africa, will maintain his role [...]
Moscow court labels Meta ‘extremist organisation’ whilst WhatsApp dodges ban March 21, 2022 A Moscow court has labelled Meta an "extremist organisation", although said the decision would not apply to WhatsApp.