Silver linings: How IBM’s reinvention highlights the rise of the cloud October 9, 2020 International Business Machines (IBM) shares rose almost six per cent yesterday after the tech firm announced plans to split its business into two public companies. IBM, which is one of the world’s oldest computer companies, will spin off its legacy IT infrastructure business by the end of next year and double down its efforts on [...]
Exclusive: London film firm secures Hollywood backing for animated blockbuster October 9, 2020 A London-based film company has secured backing from two major Hollywood names to produce one of the largest UK-financed feature films in recent years. Film and TV financing group GCI Film has pumped $37.5m (£29m) into Ozi, an animated environmental film telling the story of the ongoing destruction of the Sumatran rainforest in Indonesia. City [...]
Netflix to triple London office space as it cashes in on British success stories October 9, 2020 Netflix is set to massively expand its London office space as the US streaming giant doubles down on its commitment to the UK. The streamer will triple its footprint to 100,000 square feet when it moves into the Copyright Building in the West End. Netflix is taking over the lease from outsourcing giant Capita, which [...]
London investment firm Centricus makes surprise entry into Tiktok takeover race October 9, 2020 A little-known British investment firm has reportedly emerged as a shock bidder for Tiktok as it looks to derail Oracle’s tie-up with the Chinese viral video app. London-based Centricus Asset Management has been in negotiations with the chief executive of Tiktok’s parent company Bytedance for weeks, the Wall Street Journal reported. The firm is said [...]
Downing Street names Allegra Stratton as new press secretary October 8, 2020 Veteran journalist Allegra Stratton has been confirmed as Downing Street’s new press secretary. The newly-created role will see Stratton front No.10’s new daily televised briefings. Stratton currently serves as director of communications at the Treasury. She previously worked as journalist at ITV News, the BBC and The Guardian. The government’s new daily briefings – which [...]
TalkTalk: Will a go-private deal ring the changes for the troubled telecoms firm? October 8, 2020 TalkTalk announced earlier today it had received a takeover bid from investment management firm Toscafund. The offer paves the way for a go-private deal for the London-based telecoms group. Investors reacted positively to the news, with shares in the company rising more than 19 per cent. The bid came as little surprise to analysts, who [...]
JPI Media secures bids from Archant and media veteran Montgomery October 8, 2020 Local newspaper group JPI Media is said to have received takeover offers from rival publisher Archant and veteran media executive David Montgomery. JPI, which owns titles including The Scotsman and The Yorkshire Post, originally put its regional papers up for sale last year. The process was put on hold following the outbreak of coronavirus, but [...]
Facebook issues temporary ban on political ads after US election October 8, 2020 Facebook will stop running political ads in the US after polls close on 3 November in a bid to prevent “confusion or abuse” in the aftermath of the presidential election. The social media giant said the temporary ban marked its efforts to “protect the integrity of the election by fighting foreign interference, misinformation and voter [...]
Competition watchdog requests probe into Virgin-O2 merger October 8, 2020 The UK competition watchdog has asked the EU to refer the planned tie-up between O2 and Virgin for a full investigation in Britain. O2’s owner Telefonica in May confirmed plans for a £31bn mega-merger with Virgin Media, owned by Liberty Global. The proposed deal falls under the remit of the European Commission to review, but [...]
Huawei: ‘Clear evidence’ of collusion with Beijing, MPs warn October 8, 2020 There is “clear evidence of collusion” between Chinese tech giant Huawei and authorities in Beijing, top MPs have warned. In a report published today parliament’s defence committee claimed Huawei was “closely linked” to the Chinese state and the Communist Party. It also cited concerns about Huawei’s receipt of state subsidies and Chinese intelligence laws that [...]