Huawei rewards staff with $286m in bonuses as it fights US sanctions November 12, 2019 Huawei is set to pay its employees ¥2bn ($286m) in bonuses and double almost all October salaries as a reward for helping to fight US sanctions. The Chinese telecoms giant has been banned from doing business with American companies amid concerns its technology could be used for spying – accusations it has denied. Read more: [...]
Vodafone threatens to withdraw from India amid dispute over taxes November 12, 2019 Vodafone has warned it may pull out of India unless the government grants it a series of remedies, after a court ruling in the country dragged the firm to a €1.9bn (£1.6bn) half-year loss. Chief executive Nick Read today said the firm was in a “critical” situation in the country amid a fierce battle with [...]
Sir Martin Sorrell: Post-Brexit economy should be ‘Singapore on steroids’ November 12, 2019 Advertising veteran Sir Martin Sorrell has called on the government to pursue a “Singapore on steroids” strategy for the UK economy after Brexit. The former WPP boss, who now runs digital ad firm S4 Capital, said the UK should seek to establish a free-market, pro-business economy similar to that of the Asian financial hub. Read [...]
Financial Times appoints first female editor as Lionel Barber steps down after 15 years November 12, 2019 Lionel Barber is stepping down as editor of the Financial Times (FT) after almost 15 years at the helm, to be replaced by the newspaper’s first female editor. The veteran journalist is set to depart at the beginning of next year, having taken over the position in 2005. He will be replaced by current FT [...]
Vodafone improves guidance but lowers dividend after €1.9bn loss November 12, 2019 Vodafone hiked its full-year earnings guidance today as organic earnings rose 1.4 per cent in its second quarter, but the telco fell to a loss of almost €1.9bn in its latest half-year results. Read more: BT shares fall as Virgin Media decides to ditch BT mobile for Vodafone network The figures Vodafone fell to a [...]
UK advertisers block ‘Trump’ from campaigns amid fears over brand reputation November 12, 2019 The vast majority of UK advertisers have blocked their campaigns from appearing next to references to Donald Trump amid fears the US President could damage their brand. On average, 87 per cent of campaigns using keyword blocking between March and September excluded the word ‘Trump’, according to new data from Integral Ad Science. Read more: [...]
Uber co-founder Travis Kalanick offloads $550m in shares November 11, 2019 Uber’s ousted co-founder and chief executive Travis Kalanick has sold nearly 21 per cent of his stake in the ride-hailing app since restrictions on trading expired last week. Read more: Uber shares hit record low after IPO lock-up expiry In a series of transactions, Kalanick sold more than 20m shares worth roughly $547m (£425m), according [...]
Mobile shopping platform Rezolve bags tie-up with Korean retail giant Lotte November 11, 2019 Mobile shopping tech firm Rezolve has signed a multi-million-pound deal with South Korean conglomerate Lotte Corporation as it expands its presence in Asia. Lotte will use the London startup’s technology in its supermarket app, allowing customers to make purchases by scanning promotional print leaflets with their smartphone. Read more: Mobile shopping platform Rezolve secures bumper [...]
Vodafone expands full-fibre network with Openreach deal November 11, 2019 Vodafone is set to expand its full-fibre broadband network to three new UK cities after signing a new commercial deal with Openreach. Customers of the telecoms firm will be able to access the superfast network in Birmingham, Bristol and Liverpool from spring 2020, taking its total reach to 15 UK towns and cities. Read more: [...]
Publishing and events firm Informa buys stake in Founders Forum November 11, 2019 Publisher and events company Informa has taken a minority stake in entrepreneur network Founders Forum as it posted revenue growth for the first 10 months of the year. The FTSE 100 company’s investment will see the two firms launch a joint venture to offer “high-profile connections” in the tech industry and expand London Tech Week. [...]
