Volkswagen sets 1m electric vehicle target as it outlines cost-cutting plan March 16, 2021 Volkswagen today said it aims to sell 1m electric or hybrid vehicles this year as the German car giant outlined plans to return to profitability through a cost-cutting plan. Sales of electric vehicles grew sharply last year, but the company is now targeting a rapid expansion that would see its deliveries more than double in [...]
China asks Alibaba to sell media assets amid crackdown on Jack Ma March 16, 2021 China is said to have asked Alibaba to sell its assets in the media sector as Beijing continues to pile pressure on the company’s billionaire founder Jack Ma. The two sides have been in discussions over the matter since the beginning of the year, according to multiple media reports, with officials said to be shocked [...]
Retail tech startup Rezolve eyes $750m price tag with fresh funding round March 16, 2021 Mobile shopping platform Rezolve is closing in on a fresh funding round backed by British taxpayers that would value the startup at $750m (£540m). Rezolve, founded by tech entrepreneur Dan Wagner, is finalising a $20m funding round from a string of new US-based investors. The new cash injection, which is backed by a company connected [...]
STV Group sets out digital growth plans after pandemic hits profit March 16, 2021 Scottish media firm STV Group saw its profit fall two-thirds in 2020 but said that it had achieved a record viewing performance amid the chaos of the pandemic. The firm, which runs the STV television channel north of the border, said that profit before tax had fallen from £19m to £6.7m in 2020. However, it [...]
Rupert Murdoch’s News Corp inks Facebook deal in Australia after row March 16, 2021 Rupert Murdoch’s News Corp has signed a licensing deal with Facebook in Australia, marking an end to a dispute that saw the social media site instigate a news blackout in the country. The publishing group said it has reached a three-year agreement with Facebook to provide news and information to millions of users in the [...]
UK advertising exports hit record £11bn ahead of Covid slump March 16, 2021 UK advertising exports grew to a record £11bn in 2019, new figures have shown, highlighting the strong growth of the sector before a pandemic-induced slump. International trade in UK advertising and marketing research services rose seven per cent year on year, putting it just behind computer services in terms of exports. The figures, compiled by [...]
Apple hits back at App Store competition probe with UK jobs claim March 15, 2021 Apple today said its App Store supports 330,000 jobs in the UK as it hit back against a probe into claims it treats app developers unfairly. Earlier this month the Competition and Markets Authority opened an investigation into whether Apple imposes unfair or anti-competitive terms on developers after it received a number of complaints. The [...]
Gambling Commission chief Neil McArthur steps down amid sector review March 15, 2021 Gambling Commission chief executive Neil McArthur is stepping down after less than three years in the role, the regulator announced today. McArthur has served at the commission for almost 15 years, joining as general counsel in 2006. He was appointed to the top job in April 2018. His surprise departure comes at a crucial time [...]
Shares in events firm Ascential slump as pandemic sparks hefty loss March 15, 2021 Shares in Ascential dropped this morning after the media and events firm revealed a hefty loss in 2020 as a result of the pandemic. The FTSE 250 company, which runs the Cannes Lions festival, reported a pre-tax loss of £166.5m last year, compared to a profit of £1.8m in the previous 12 months. The lacklustre [...]
Name-dropping: Elon Musk changes job title to Technoking of Tesla March 15, 2021 Eccentric billionaire Elon Musk has a history of riling shareholders with his unusual behaviour, and his latest stunt could put another black mark by his name. In a stock market filing today, the troublesome tycoon announced he has changed his job title to Technoking of Tesla, in addition to his current role of chief executive. [...]
