Ant Group set to raise $17.5bn in Hong Kong listing September 23, 2020 Ant Group is said to be targeting a raise of $17.5bn when it goes public in Hong Kong as part of a dual listing that will also see it float in Shanghai. The Chinese firm is hoping to raise a total of $35bn across both listings, which if successful, will top Saudi Aramco’s $29.4bn debut [...]
Facebook backtracks on pulling out of Europe over data laws September 23, 2020 Facebook’s head of policy has said the company won’t be making its platforms inaccessible in the EU, despite reportedly making that argument to an Irish court as it battles new data transfer legislation. The company was said to have told Ireland’s High Court it cannot see how its services could operate in the EU if [...]
Former BT boss tapped to lead search for Huawei replacement September 23, 2020 Former BT chief executive and trade minister Lord Ian Livingston has been tapped to find alternative telecoms providers to replace Huawei equipment in the UK’s 5G networks. Livingston has been named as chair of a new government task force that will seek to diversify the country’s telecoms supply chain and reduce reliance on high-risk vendors. [...]
Huawei urges US to stop ‘attack’ on global supply chain September 23, 2020 Embattled Chinese tech giant Huawei has said its global supply chain is under attack from the US and called on Washington to reverse its trade bans. US President Donald Trump’s administration has ramped up its crackdown on Huawei, issuing fresh trade bans designed to limit the telecom company’s access to chips. “The US has modified [...]
Facebook removes network of Chinese accounts over US election influence September 23, 2020 Facebook has said it has taken down a number of inauthentic Chinese accounts for attempting to influence elections and political activity in the US and Philippines. The company said it had suspended 155 accounts on Facebook and six Instagram accounts. Some of the accounts had been sharing content both in support and opposition of US [...]
The “homebody economy” – investing in your digital back yard September 23, 2020 | City Talk It is clear that UK shares are unloved. No likes, no shares, no new friend requests. The level of gloom surrounding this market is remarkable even amongst UK based investors, who, you might think, should feel more comfortable investing here. This is not just pandemic queasiness. Although the UK economy is service-led to some extent, [...]
Musk says $25,000 Tesla ‘three years away’ as investors wipe off $50bn September 23, 2020 Tesla boss Elon Musk said last night that he expects a cheaper, fully autonomous Tesla model to be available “about three years from now”. However investor reaction to the company’s highly anticipated Battery Day was muted, leading Tesla’s market valuation to fall by around $50bn. “This has always been our dream to make an affordable [...]
Tiktok proposes social media coalition as MPs grill app over online harms September 22, 2020 Tiktok has proposed social media firms form a global coalition to better combat harmful and offensive content on their platforms, as MPs grilled the app’s European policy boss on its track record. Tiktok said in a statement ahead of the parliamentary hearing that it had sent letters to nine firms — Facebook, Instagram, Google, Youtube, [...]
Government’s satellite startup Oneweb to restart launches in December September 21, 2020 Oneweb is to restart satellite launches in December, after being rescued from bankruptcy by the UK government earlier this year. The launches will be carried out with Arianespace, with plans for the satellites to be ready for commercial services next year. Its first launch in December will be one of sixteen under an amended agreement [...]
Microsoft buys Elder Scrolls and Fallout maker for $7.5bn September 21, 2020 Microsoft has bought Zenimax Media, the owner of game developer Bethesda, for $7.5bn. It is hoped the deal will help Microsoft boost its Xbox gaming capabilities, with two new consoles to hit the shelves in November. Zenimax is the parent company of Bethesda Softworks, which has created developed hits including The Elder Scrolls, Wolfenstein, and [...]