Amazon hit with class-action lawsuit over ebook price-fixing January 15, 2021 Amazon has been slapped with a class-action lawsuit over accusations it colluded with publishers to fix ebook prices. The lawsuit, filed in a New York district court, alleges that Amazon and the so-called Big Five publishers — Penguin Random House, Hachette, Harper Collins, Macmillan and Simon & Schuster — agreed to price restraints that cause [...]
Blackrock sells $200m China Telecom stake after US ban January 15, 2021 Blackrock has offloaded almost all of its stake in China Telecom at a significant discount following a new ban on US investment. China Telecom is one of a number of tech firms subject to a Trump administration executive order blocking American investors from owning companies deemed to have links with the Chinese military. The move [...]
Screenshot: Is social media heading for a new era of privacy? January 15, 2021 A weekly column from City A.M. bringing you all the biggest stories and trends in technology, media and telecoms This week **Media Moment of the Week: CNN’s crowbar correction **Whatsapp’s privacy exodus **Music touring: A victim of Brexit? Media Moment of the Week Given the extent of the carnage at the Capitol last week, reporters [...]
CES 2021: Gadgets that wowed us in the first all-digital Las Vegas show January 14, 2021 The first all-digital Consumer Electronics Show has come to an end, and while the event was a little more subdued than normal, there were still some gadgets on show that blew us away. Whether by virtue of their brilliance or their strangeness, here are the gadgets that caught our eye during CES 2021. Razer Project [...]
Google completes $2.1bn Fitbit takeover after antitrust probe January 14, 2021 Google today said it has completed its $2.1bn (£1.5bn) takeover of Fitbit, more than a year after the deal was announced. The tie-up was subjected to a lengthy investigation by regulators amid concerns about Google’s market power and the use of people’s health data in targeted advertising. But the European Commission last month cleared the [...]
Blue Prism enjoys fifth year of revenue growth despite pandemic downturn January 14, 2021 Automation specialist Blue Prism has enjoyed its fifth year of revenue growth even as businesses delayed purchases amid the pandemic. The Aim-listed firm develops Robotic Process Automation (RPA) software, which helps large companies automate complex administrative tasks. Customers responded to the pandemic by delaying purchasing decisions or reducing deal sizes which meant Blue Prism took [...]
Global investors flock to London in ‘golden age’ for tech January 14, 2021 London has cemented its role as Europe’s leading tech hub after a near-record year of investment as overseas investors circle in on the capital’s best firms. Global tech investors are piling into the capital with a total $10.5bn (£7.7bn) investment recorded in 2020, a quarter of Europe’s whole VC investment for the year. The amount [...]
Grocery delivery app Weezy raises $20m for London expansion January 14, 2021 Grocery delivery platform Weezy has raised $20m (£14.6m) to fund its expansion in London and across the UK as it cashes in on bumper demand during the pandemic. Weezy, which offers local grocery deliveries in 15 minutes, said it will use the funding to add 50 employees to its London-based team over the next four [...]
Deliveroo picks banks as it gears up for blockbuster float January 13, 2021 Deliveroo is said to have tapped four investment banks as it prepares for a blockbuster float on the London Stock Exchange this year. The food delivery app has hired Bank of America Merrill Lynch, Citi, Jefferies and Numis to work on an initial public offering that could value it at more than £5bn, Sky News [...]
Intel shares rise as chipmaker replaces chief executive January 13, 2021 Shares in Intel pushed higher this afternoon after the tech giant said it was replacing chief executive Bob Swan following a string of manufacturing missteps. Swan, who has held the top job for just two years, will step down on 15 February and will be replaced with Pat Gelsinger, currently chief executive of software group [...]