Shares in media group Future jump as acquisitions fuel record half-year results May 17, 2019 Shares in media company Future jumped as much as seven per cent in early trading after it posted a record rise in revenue and profit for the half year. Future, which owns magazine titles including Four Four Two and Tech Radar, reported a 103 per cent rise in revenue to £108.7m in the six months [...]
China threatens to strike back after US Huawei ban May 16, 2019 China has threatened to retaliate against the US after President Donald Trump signed an executive order effectively blocking American companies from working with telecoms firm Huawei. Foreign ministry spokesperson Lu Kang slammed the use of unilateral sanctions on Chinese firms and said the country would take action. Read more: Former spy chief calls for UK [...]
Accounting software firm Xero grows revenue thanks to strong UK performance May 16, 2019 Accounting software company Xero has posted a sharp rise in revenue for the full year, boosted by strong subscriber growth in the UK. Read more: Financial app store provider OpenFin backed in $17m funding round The figures Operating revenue soared 36 per cent to 552.8m New Zealand dollars (£267.9m) in the year to the end [...]
BT staff to be handed £50m in shares as new boss overhauls image May 16, 2019 BT will hand out £50m in shares to staff every year as the telecoms firm’s new boss embarks on a plan to turn around its tarnished image. Chief executive Philip Jansen today unveiled the company’s new ‘yourshare’ scheme, which will amount to roughly £500 per employee per year. Read more: BT boosts profits under new [...]
Magazine publisher TI Media taps media veteran Tim Weller as new chairman May 16, 2019 The magazine publisher behind Horse & Hound and Country Life has appointed media veteran Tim Weller as its new chairman. Read more: Trump pardons fraudster media mogul Conrad Black City A.M. understands Weller, a prolific media entrepreneur, has joined TI Media, which is the UK’s biggest consumer magazine publisher The media boss has been recruited by Epiris, [...]
Huawei poses a risk to national security and should be banned, says former spy chief May 16, 2019 Allowing Chinese tech firm Huawei to participate in the UK’s 5G network poses an unnecessary risk to national security, the former head of MI6 has warned. Sir Richard Dearlove has called for a total ban on Huawei, warning that no Chinese company could be free from the influence of the communist state. Read more: Huawei [...]
French ride-hailing app Kapten puts Uber in its sights as it launches in London May 16, 2019 French ride-hailing app Kapten has taken a swipe at Uber after launching in London this morning. Read more: Uber IPO: Shares slide again on second day of trading The private-hire vehicle company, formerly called Chauffeur Prive, has set up shop in the capital after winning approval from Transport for London. The firm, which is backed [...]
Burberry shares fall as transformation plan takes toll on growth May 16, 2019 Shares in Burberry fell 4.5 per cent this morning after the firm posted broadly flat revenue and profit in the first year of its major transformation plan. Read more: Burberry keeps momentum from China despite trade war fears The figures Revenue remained broadly flat at £2.72bn for the year to the end of March. Pre-tax profit [...]
Trump pardons ex-media mogul Conrad Black after flattering biography May 16, 2019 Donald Trump has pardoned ex-media mogul and convicted fraudster Conrad Black just a year after he penned a flattering biography of the US President. Black, the former owner of the Daily Telegraph, served three-and-a-half years in prison in the US for plotting to embezzle millions of dollars from his newspaper empire. Read more: The i [...]
Sophos shares jump as it grows revenue despite ‘challenging’ year May 16, 2019 Shares in cybersecurity firm Sophos soared after it posted double-digit revenue growth for the full year, despite reporting “challenging” trading over the period. Read more: Sophos shares tank on performance warning The figures Revenue rose 11.2 per cent to $710.6m (£554m) in the year to the end of March. Pre-tax profit hit $53.6m, up from [...]
