Twitter shares jump as Elliott makes move to oust founder Jack Dorsey March 2, 2020 Shares in Twitter rose more than eight per cent in early trading in New York this afternoon after it emerged an activist investor has launched a bid to oust founder Jack Dorsey. Elliott Management has built up a stake in the social media firm and has nominated four directors to its board. The New York-based [...]
Saga halts Titan Travel sale as coronavirus worries weigh March 2, 2020 Over-50s insurer Saga is said to have halted the sale of one of its travel businesses as the coronavirus outbreak sparks chaos across the tourism industry. Advisers to Saga have postponed the auction of Titan, which operates escorted tours, cruises and rail journeys to various destinations around the world. A number of private equity firms [...]
FTSE 100 reshuffle: The five stocks at risk of falling out of London’s blue-chip list March 2, 2020 Supermarket chain Morrisons, B&Q owner Kingfisher and travel agent Tui are among the companies at risk as the FTSE braces for a reshuffle this week. The next quarterly shake-up is due to be announced on Wednesday, based on closing prices tomorrow. NMC Health, which is facing a probe into its finances by the City watchdog [...]
Twitter bans ‘non-critical’ business travel over coronavirus fears March 2, 2020 Twitter has rolled out a ban on all “non-critical” business travel and events as the social media firm ramps up its health precautions amid the coronavirus outbreak. In a blog post published yesterday, Twitter’s chief HR officer Jennifer Christie said the company had informed staff of the new measures at the end of last week. [...]
Nokia replaces chief executive as 5G strategy fails to win over investors March 2, 2020 Nokia today announced plans to replace its chief executive as the Finnish telecoms firm battles escalating 5G costs and fierce competition from rivals. Rajeev Suri will step down as president and chief executive after more than a decade in the role, and will be replaced by Pekka Lundmark. Lundmark, who currently leads Finnish energy company [...]
Government launches campaign to promote UK ad industry after Brexit March 2, 2020 The government has teamed up with industry bodies to launch a new campaign aimed at promoting the UK’s advertising industry after Brexit. The UK Advertising Export Group (UKAEG) will look to boost the profile of the British ad sector and generate more deals in key territories such as China, Japan, South Korea, North America and [...]
Tuning in: Has the City undervalued the podcast craze? March 1, 2020 With podcasts steadily shoring up their position as a mainstay of the modern media landscape, canny distributors have been biding their time. But now Aim-listed podcast platform Audioboom seems ready to cash in on the booming popularity of on-demand listening. Last month the Nicky Candy-backed audio firm, which distributes podcasts including nerdy QI favourite No [...]
Sky closes in on bumper £300m Six Nations broadcasting deal March 1, 2020 Sky is said to be closing in on a £300m deal for the broadcast rights to the Six Nations in a controversial move that could wipe the rugby tournament from terrestrial TV. The tender process for the new broadcasting contract is set to close when this year’s tournament wraps up on 14 March, with Sky [...]
Arm sells cybersecurity business to Tory donor’s private equity firm March 1, 2020 British chipmaker Arm has sold its cybersecurity division Trustonic to a private equity firm run by Tory party donor Edmund Lazarus. EMK Capital last week announced it had snapped up the cyber firm from Arm and Gemalto, a Dutch cyber firm now owned by Thales Group. Trustonic, which was was founded in 2012 as a [...]
Activist Elliott builds Twitter stake as it plots ousting of Jack Dorsey March 1, 2020 Activist investor Elliott Management has built up a stake in Twitter in a bid to oust the social media site’s founder Jack Dorsey as chief executive. The New York-based hedge fund, founded by billionaire Paul Singer, has nominated four directors to Twitter’s board, Bloomberg reported. Elliott is also said to be plotting the removal of [...]
