Facebook and Google ad revenue to surpass TV for first time February 27, 2020 Brands are set to splash out more advertising dollars on tech titans Facebook and Google than the entire global TV sector this year, according to figures released today. Advertising revenue for Facebook and Google parent company Alphabet is forecast to reach $231.9bn (£185bn) in 2020, according to industry body Warc. TV ad spend is set [...]
Online harms laws will not harm free speech, vows Ofcom boss February 27, 2020 The rollout of new laws to tackle so-called online harms will not lead to censorship or damage free speech, a top Ofcom executive has said. Earlier this month the government said it would appoint Ofcom as Britain’s first internet watchdog, tasked with crackdown down on illegal and harmful material on social media sites. The beefed-up [...]
Apple receives bloody nose over Chinese censorship policies February 26, 2020 Apple’s shareholders today launched an unsuccessful proposal critical of the firm’s removal of apps at the request of the Chinese government, despite garnering two-fifths of investors’ support. The proposal drew a much higher proportion of votes than similar proposals in previous years which had gained support only in single-digit percentages. The bid had called on [...]
Microsoft downgrades Windows and Surface outlook on coronavirus outbreak February 26, 2020 Microsoft has said it won’t meet parts of its quarterly guidance following the coronavirus outbreak. The downgrade relates to its More Personal Computing segment, which Microsoft had previously forecast to report between $10.75bn (£8.33bn) and $11.15bn in revenue for the upcoming quarter. “Although we see strong Windows demand in line with our expectations, the supply chain is returning [...]
Salesforce promotes former BT chief in management shake-up February 26, 2020 Salesforce has promoted former BT chief executive Gavin Patterson to a top role as part of a wider shake-up of its management team. Patterson, who joined the business software firm in September last year, will now serve as president and chief executive of Salesforce International. He will be based in Salesforce’s UK headquarters in the [...]
Avast forecasts revenue growth despite data sharing scandal February 26, 2020 Cybersecurity firm Avast today posted a rise in profit for the full year and vowed to deliver “healthy growth” in 2020 despite the impact of a scandal over its use of data. The London-listed firm reported revenue of $873m (£675m) in the year to the end of December, up 5.6 per cent on the previous [...]
Internet research boosts pay as Londoners turn to online learning February 26, 2020 Internet research drives as much as 10 per cent of the UK’s economic output, new figures have revealed, as proactive Londoners use online resources to learn new skills and boost their efficiency. More than 80 per cent of the capital’s workforce use online learning to help with work at least once a month, while 70 [...]
AI chipmaker Graphcore nears $2bn valuation after fresh funding round February 25, 2020 Chipmaker Graphcore today said it was closing in on a $2bn (£1.5bn) valuation after securing $150m in a fresh funding round. Graphcore, which specialises in processors for machine learning and artificial intelligence (AI), secured the backing from new investors Baillie Gifford, Mayfair Equity Partners and M&G Investments. The cash boost, which was an extension of [...]
Financial Conduct Authority admits major data breach February 25, 2020 The Financial Conduct Authority (FCA) has admitted that it revealed confidential consumer information on its website in a data breach last year. The City watchdog published details of roughly 1,600 people who filed complaints about it between January 2018 and July 2019. In some instances the information included names, addresses and telephone numbers. The FCA [...]
Zoopla investor ploughs £3.3m into London gig economy startup’s seed round February 25, 2020 Collective Benefits, a gig economy startup which is set to exit Facebook’s London accelerator next month, has closed £3.3m in seed funding. The round was led by Stride.VC, a backer of Zoopla, Secret Escapes and Pill Pack, with participation from Delin Ventures and Insurtech Gateway. Collective said a number of angel investors also joined the [...]