Multinationals warned over risk of cyber attacks July 5, 2016 Large multinationals are being warned over their preparations against cyber attacks. Companies have admitted to feeling constrained by regulation, resources, and dependence on third parties, with only a fifth of IT decision makers confident they are able to deal with the growing threat of cyber-criminals. Research from KPMG and BT found that almost half (47 [...]
Week ahead: Brexit fears set to hang over FTSE earning reports July 4, 2016 The market is bracing itself for a slew of Brexit induced profit warnings this week as we enter the early stages of reporting season. After the UK’s shock vote to leave the European Union triggered a sharp sell off, the FTSE 100 has rebounded strongly – pushed on by international earners. The blue-chip index ended [...]
US billionaire investor Wilbur Ross picks up £280,000 from the ashes of NBNK July 4, 2016 US billionaire investor Wilbur Ross has picked up £281,000 from the ashes of the failed banking investment vehicle NBNK. In May the board of NBNK, made up of private equity firm WL Ross & Co's senior vice president Stephen Johnson, and Labour life peer and barrister Lord Brennan, voted in May to make the payment to WL Ross & Co [...]
Imagination Technologies set to post biggest ever loss as costs soar July 3, 2016 Investors are braced for UK chip maker Imagination Technologies to report a slump in earnings this week. The Hertfordshire-based tech firm will post its full year results tomorrow and analysts have pencilled in a £20m loss, the worst in its 30-year history. Imagination is heavily exposed to its main customer iPhone maker Apple, and has [...]
Customers could be offered O2 shares as Telefonica nears IPO July 3, 2016 Customers of O2 could be in with a chance of buying shares in the firm if its stock market float goes ahead. O2 Priority, which normally provides customers with early access to things like concert tickets, is being considered as a vehicle for a customer share offering, it was reported in the Sunday Telegraph. O2’s Spanish [...]
Shell job losses could be worsened by Brexit vote July 3, 2016 Oil giant Royal Dutch Shell has warned over the possibility of further job cuts. The risk of more job losses is a result of uncertainty caused by the UK’s vote to quit the European Union, City A.M. understands. Since last year Shell has slashed 12,500 jobs following the fall in oil prices and its tie-up [...]
London tech heavyweights call for European talent to remain in the capital following Brexit vote June 30, 2016 The London tech community has called for non-UK Europeans working in the sector to stay following the country’s vote to quit the European Union. Russ Shaw, founder of lobby group Tech London Advocates (TLA), has gathered around 150 signatures, including the Mayor of London and the likes of entrepreneur and angel investor Sherry Coutu and co-chief executive of digital literacy [...]
AmazonFresh opens up to new London postcodes June 30, 2016 US online retailer Amazon has expanded its recently launched fresh food delivery service, Amazon Fresh, across London. Its footprint has grown from 69 to 128 London postcodes less than a month after it began the service in London. Amazon Fresh’s arrival sent shockwaves through the grocery industry. Online supermarket Ocado’s shares fell to a three-year [...]
Studio Lionsgate shoots for the Starz with $4.4bn deal June 30, 2016 Movie studio Lionsgate, the home of smash hits The Hunger Games and Twilight franchises, has agreed to a deal for US premium cable channel Starz for $4.4bn (£3.3bn). The stock and cash deal will value Starz at a 15 per cent premium to the company’s closing price on Wednesday. Starz is 49 per cent owned [...]
