Apple to cut new iPhone production by 10 per cent as Christmas takes its toll January 9, 2019 Apple has reportedly slashed planned production for its three newest iPhone models by about 10 per cent for the next three months, just one week after the tech giant cut its revenue forecasts. Apple is said to have asked its suppliers to produce less of its iPhone XS, XS Max and XR models than originally [...]
TSB backs Met with £200,000 fund to fight fraud in London after last year’s IT chaos January 9, 2019 Bank TSB has invested £200,000 in a partnership with the Metropolitan Police to fight fraud and cybercrime. The bank, which suffered a string of IT outages last year that led to the exit of its chief executive Paul Pester, said the scheme was aimed at fraud prevention and enforcement. TSB was hit by extreme levels [...]
Apple chief Tim Cook picks up his biggest annual bonus to date January 9, 2019 Apple chief executive Tim Cook was awarded his largest ever bonus in September last year, just before the tech giant's most stellar year to date took a turn for the worse. Apple said in a regulatory filing yesterday that Cook had been given a cash bonus of $12m (£9.4m) at the end of its fiscal year, [...]
Softcat is top dog after trading update sends shares soaring January 9, 2019 Softcat shares rocketed today after the IT infrastructure provider said it was materially ahead of expectations at this stage of the year. Shares jumped 20 per cent this morning to 707p following the news. Softcat said trading had continued to be strong since its last update on 28 November. Ahead of its interim results on 31 [...]
London raked £1.8bn in tech funding last year, almost double its next closest rival January 9, 2019 London has retained its spot at the top of the tech charts for another year, securing almost double the amount of investment in 2018 than its next closest European competitor. Tech firms in the capital raised £1.8bn in venture funding and public listings in 2018, raking in 72 per cent of the UK’s £2.5bn total [...]
Fintech unicorn Monzo to appoint former Northern Rock boss to banking board January 8, 2019 Digital bank Monzo has appointed the former head of failed bank Northern Rock to its board, as the startup aims for growth in 2019. The fintech firm is to announce Gary Hoffman as its non-executive chairman tomorrow, as first reported by Sky News, replacing Baroness Kingsmill who has chaired Monzo since 2015. Hoffman will bring [...]
Wework to rebrand as The We Company in business structure overhaul, turning its eyes to fintech January 8, 2019 Shared workspace provider Wework is rebranding itself as The We Company, as the firm aims towards a more diversified business portfolio. To be announced at an internal company conference later this week, The We Company will become the parent to several offshoots, including Wework as its main office provider. Others include its residential unit Welive, and an [...]
LG profits to plummet 80 per cent in festive quarter, as Samsung shares hit by weak chip demand January 8, 2019 LG Electronics has said its operating profit for the fourth quarter is likely to drop 80 per cent from the same period in 2017, falling miles away from previous analyst expectations. The world's second largest TV manufacturer has forecasted profit of just 75.3bn won (£52.5m) for the three months to December last year, which is also [...]
Wework launches a shoppable London office pop-up store, designed by influencers January 8, 2019 Shared workspace tech giant Wework has today launched a pop-up office in Holborn that is completely shoppable, and is designed with influencers in mind. Open throughout January, the pop-up is filled with office decor from brands such as Urban Outfitters which can be bought via the Liketoknow.it app. Londoners can sign up online to grab [...]
Oracle founder Larry Ellison reveals billion-dollar stake in Tesla January 8, 2019 The founder of software giant Oracle has disclosed a stake in the US' most shorted public company Tesla, worth approximately $1bn (£784.1m). The news, published in a filing with the US Securities and Exchange Commission (SEC), comes after Larry Ellison joined Tesla's board in December. Ellison is a long-time friend of Musk, and is currently [...]