Softbank buyback plan raises doubts about its ‘financial soundness’ June 11, 2020 Credit-rating firm S&P Global Ratings has questioned Softbank’s financial rigour as it pursues a huge share buyback programme. The buyback plan raises doubts about the conglomerate’s intention to adhere to “financial soundness and creditworthiness,” S&P said. Softbank is looking to raise up to $41bn via asset sales. The plan has already come under fire from [...]
Ocado shares slide on plans to raise £1bn amid coronavirus online boom June 11, 2020 Ocado shares fell this morning after the announcement that it plans to raise £1bn to help it capitalise on the online grocery market boom triggered by the coronavirus crisis. The British online supermarket and technology group said yesterday that it would raise about £657m through an equity placing and retail offer, and about £350m through [...]
CityFibre announces 10,000 jobs boost to roll-out infrastructure June 11, 2020 CityFibre has today announced a 10,000 jobs boost as part of its efforts to upgrade the UK’s digital infrastructure to full fibre. The recruitment drive will target those now unemployed as a result of the pandemic and service-leavers. There will also be job opportunities for qualified and experienced telecoms workers. Jobs will be created within [...]
APIs: the invisible wiring pivotal to digital transformation June 10, 2020 | City Talk Unless you work in a technology-focused business, or are particularly technology-minded, it’s unlikely that you will have heard of ‘Application Programming Interfaces’ – or APIs. But as companies, and daily life, become increasingly technology-based – a trend accelerated by coronavirus – and APIs themselves evolve, they are becoming more important to business success. For an [...]
Britain’s tech sector takes in $5.3bn in first half of 2020 June 10, 2020 The UK’s tech businesses have raised more than $5bn in investment so far this year, despite the impact of coronavirus weighing on funds. Startups across the UK took in $5.3bn between January and May 2020, more than the rest of Europe combined at $4.1bn. Data compiled by Tech Nation and Dealroom showed London commanded the [...]
Government unveils pandemic support package for struggling tech firms June 9, 2020 International trade secretary Liz Truss will on Wednesday unveil a package of measures designed to help bolster the UK’s tech community, as businesses continue to struggle during the coronavirus pandemic. Jointly supported by the Department for International Trade (DIT) and the Department for Digital, Culture, Media and Sport (DCMS), the measures are aimed at helping [...]
Softbank to lay off 15 per cent of staff at Vision Fund arm June 9, 2020 Softbank is set to cut 15 per cent of jobs at the investment arm which manages its $100bn Vision Fund, following a series of misplaced bets which damaged its overall value. The Vision Fund, which is responsible for taking major stakes on behalf of Softbank in tech startups such Wework and Uber, has a global [...]
Honda forced to suspend factory activity in wake of cyber attack June 9, 2020 Honda has halted production at a number of its global factories after suffering a suspected cyber attack to its internal servers. A spokesperson for Honda said today that activity had been suspended as the company needed to ensure that its quality control systems were not compromised. Honda was hit by a suspected hack yesterday that [...]
A further 140,000 people affected in Nintendo Switch hack June 9, 2020 A breach of Nintendo Switch users in April may have affected more people than the gaming company first announced, Nintendo said today. The Animal Crossing creator said an additional 140,000 Nintendo Network IDs may have been affected by unauthorised logins, on top of the 160,000 IDs revealed earlier this year. This brings the total number [...]
Apple set to manufacture its own chips for new Mac computers June 9, 2020 Apple is said to be preparing to announce a move to its own processors in Mac computers later this month, replacing a long-running partnership with Intel. The announcement could be made at Apple’s Worldwide Developer Conference (WWDC) on 22 June, people familiar with the matter told Bloomberg. Codenamed Kalamata, an announcement at WWDC would provide [...]