Explainer: Why has the UK intervened in Nvidia’s $40bn Arm merger? April 20, 2021 Ever since it was announced in September last year, Nvidia’s proposed $40bn (£30bn) takeover of British chipmaker Arm has proved controversial. Critics including rival tech firms and former Arm executives were quick to hit out at the deal, warning of a negative impact for Britain and the semiconductor industry more widely. Yesterday the government made [...]
Netflix lookahead: What to expect from the streaming giant’s earnings April 20, 2021 Netflix is leading the charge in a busy schedule of US earnings today, reporting first-quarter figures after the bell. The Silicon Valley streaming giant, which now has more than 200m subscribers, has cashed in on higher demand for at-home entertainment during the pandemic. With most lockdown measures still in place in the first three months [...]
Amazon executive in conflict of interest row over UK space role April 20, 2021 A senior Amazon executive is said to be in the running for a role as government space adviser despite concerns over serious conflicts of interest. Peter Marquez, head of space policy at Amazon, has been put forward to serve as a temporary, unpaid adviser to the government. He would take up the position alongside his [...]
Cyber firm Avast lifts guidance as revenue growth continues April 20, 2021 Cybersecurity firm Avast today hiked its forecasts for the full year after posting a strong rise in profit for the first quarter. The London-listed company booked revenue of $237m (£170m) in the first three months of the year, up 10.5 per cent on last year. Adjusted earnings before interest, tax, depreciation and amortisation also rose [...]
Music Magpie secures new funding ahead of £208m stock market float April 20, 2021 Tech resale site Music Magpie today said it has secured £20m in fresh funding, just days after confirming plans for an initial public offering in London. The online retailer, which allows consumers to exchange old devices such as phones and game consoles to cash, has inked the deal with Silicon Valley Bank’s (SVB) UK branch. [...]
Zoom looks to future-proof with $100m productivity app fund April 19, 2021 Zoom today unveiled plans to launch a $100m (£72m) venture fund to invest in productivity apps, marking the video calling platform’s efforts to maintain momentum following the pandemic. The company said its Zoom Apps Fund will help to generate growth for its portfolio of apps as it looks to integrate other technology into its own [...]
UK launches national security review into Nvidia’s $40bn Arm takeover April 19, 2021 The UK has launched a review into Nvidia’s planned $40bn (£30bn) takeover of British chipmaker Arm amid concerns it could harm national security. Digital secretary Oliver Dowden today issued a public interest intervention notice (PIIN) relating to the proposed deal. Cambridge-based Arm is one of the world’s leading semiconductor companies. Chips are key to technologies [...]
Huawei and Dutch telecoms firm hit back over spying report April 19, 2021 Huawei and Dutch telecoms firm KPN have hit back at claims that the Chinese tech giant was able to eavesdrop on mobile users following a media report that has reignited the row over telecoms security. A story published in Dutch newspaper De Volkskrant this weekend cited a 2010 report by consultancy Capgemini for KPN, which [...]
Treasury to move forward with recommendations set out in listings review April 19, 2021 The Treasury will move forward with recommendations made by Lord Hill to encourage more fintechs to list in the UK. Last month the former EU commissioner published a set of recommendations which called for a range of deregulatory measures. Among the recommendations was the use of dual class shares, which allow company founders to maintain [...]
UK tech optimism hits seven-year high on recovery hopes April 19, 2021 UK tech companies are now more optimistic about their short-term growth prospects than at any time over the last seven years, according to new figures published today. Firms in the burgeoning British tech sector reported strong confidence that business activity will bounce back strongly after the latest national lockdown and as Brexit-related uncertainty among clients [...]