Tusk accuses UK of ‘wasting time’ amid Tory leadership race June 21, 2019 EU chief Donald Tusk has slammed the UK for “wasting” the extension to the Brexit deadline as the Conservative Party gears up for the final stage of the leadership race. Read more: EU ‘dreams’ of UK U-turn on Brexit decision, says Donald Tusk The European Council president said he was not happy with the situation [...]
Competition watchdog urges Facebook and Ebay to crack down on fake review market June 21, 2019 The competition watchdog has called on Facebook and Ebay to step up their efforts to prevent the sale of fake reviews through their sites. The Competition and Markets Authority (CMA) today wrote to the two platforms asking them to conduct a review amid concerns there is a “thriving” marketplace for fake and misleading online reviews. [...]
Dixons Carphone shares plunge further as hefty loss rattles investors June 21, 2019 Shares in Dixons Carphone dropped more than eight per cent this morning as investors reel from its disastrous full-year results. Read more: What’s wrong at Dixons Carphone? Analysts react to loss as shares dive The retailer yesterday revealed it had swung to a £259m loss, driven by poor trading in its mobile division, and warned [...]
Shares in chipmaker IQE plummet as it warns Huawei ban will hit profit June 21, 2019 Shares in chipmaker IQE plunged almost 40 per cent this morning after it revised down its full-year revenue and profit guidance due to the US trade ban on Huawei. The Cardiff-headquartered firm, which makes semiconductor wafers for smartphone brands including Apple, warned restrictions on the Chinese tech firm, coupled with a slowdown in the global [...]
Mark Carney: 150,000 firms not ready for no-deal Brexit June 21, 2019 Roughly 150,000 UK businesses are not ready to keep exporting to the EU in the event of a no-deal Brexit, Mark Carney has said. The Bank of England governor said the companies still did not have the necessary paperwork and while many had built up contingency stocks, these would only last “weeks”. Read more: BoE’s [...]
Sorrell’s S4 Capital to buy marketing firm Biztech as it ramps up global expansion June 21, 2019 Sir Martin Sorrell’s S4 Capital is set to snap up marketing tech firm Biztech in its latest bid to expand globally and take on traditional ad agencies. S4 Capital said Media Monks, its content division, has conditionally agreed a merger with the Melbourne-headquartered firm for an undisclosed sum. Read more: Sir Martin Sorrell: Traditional agency [...]
Internet regulation poses ‘serious threat’ to free speech and innovation June 20, 2019 Government plans to tighten regulations against internet companies pose a serious threat to free speech and will damage the economy, according to a new report. The Adam Smith Institute (ASI) warned that making platforms such as Google and Facebook accountable for material posted by their users could lead to widespread censorship. Read more: Online harms [...]
Moody’s downgrades Jaguar Land Rover as it battles China slowdown June 20, 2019 Embattled car giant Jaguar Land Rover (JLR) suffered a fresh blow today after credit rating agency Moody’s downgraded the firm and warned of a “negative outlook”. Moody’s has reduced its corporate family rating to B1 from Ba3 and the probability of default rating to B1-PD from Ba3-PD. It also downgraded the instrument ratings on the [...]
London tech wages lag behind US despite fintech boom June 20, 2019 Salaries for London tech workers are lagging far behind their US rivals, despite the capital’s status as a leading hub for fintech firms. The average salary for London tech workers is £62,000, up six per cent on last year, according to figures from employment firm Hired. Read more: Five fintech firms scoop combined £25m from [...]
Caretech half-year revenue booms after Cambian acquisition June 20, 2019 Care home operator Caretech has posted a sharp rise in revenue and profit for the half year after snapping up rival care and education firm Cambian Group. Read more: Competition watchdog launches probe into merger between Caretech and Cambian Group The figures Caretech’s revenue soared 120 per cent to £192.5m in the six months to [...]
