Virgin Media O2 to upgrade UK broadband network to full-fibre by 2028 July 29, 2021 Virgin Media O2 today unveiled plans to upgrade its UK broadband network to full-fibre by 2028 as it ramped up the pressure on telecoms rival BT. The company, which launched last month following the £31bn merger between Virgin Media and O2, said its project will cover 14.3m premises across the country, including 1.3m homes already [...]
MPs and peers launch ‘super committee’ to scrutinise online harms laws July 29, 2021 A joint committee of MPs and lords has been launched today to scrutinise controversial government plans to tackle online harms. The new super committee will be tasked with seeking views on the online safety bill, which was published in draft form in May. The bill is designed to hold tech giants such as Facebook and [...]
Google hit with £920m UK lawsuit over ‘unlawful’ app store charges July 29, 2021 Google has been slapped with a £920m class action lawsuit in the UK over claims charges on its Google Play Store are “excessive and unlawful”. The claim, filed in the Competition Appeal Tribunal in London, alleges that the tech giant shuts down competition in its Play store and hits out at its 30 per cent [...]
UK ad spend forecasts lifted as lockdown easing drives recovery July 29, 2021 Official forecasts for UK advertising spend in 2021 have been lifted after the easing of lockdown restrictions helped drive a better-than-expected recovery for the battered sector. Ad spend is now expected to grow 18.2 per cent this year to hit a total of £27.7bn, an upgrade from the 15.2 per cent rise forecast in April. [...]
Spotify beats forecasts as paid subscribers hit 165m July 28, 2021 Spotify has beaten expectations for the second quarter as the streaming giant saw its paid subscriber numbers grow by a fifth. The Swedish company said premium subscribers jumped 20 per cent year on year to hit 165m in its latest quarter – towards the upper end of its guidance and modelty ahead of forecasts. Monthly [...]
Music Magpie posts rise in profit after London IPO July 28, 2021 Tech resale site Music Magpie has posted a rise in revenue and profit in its first interim results since floating on the London Stock Exchange earlier this year. The online retailer, which allows consumers to exchange old devices such as phones and game consoles for cash, reported adjusted pre-tax profit of £4m in the six [...]
Betting firm Sportech lists on Aim after move from London’s main market July 28, 2021 Betting firm Sportech began trading on Aim this morning after shifting its shares from London’s main market in the wake of pandemic losses. The London-based company last month said it would delist from the primary London Stock Exchange and trade instead on the capital’s junior market. Sportech said Aim was more suited to the company’s [...]
ITV to restore dividend as advertising revenue bounces back July 28, 2021 ITV today pledged to reinstate its full-year dividend after the embattled broadcaster said it was emerging from the worst effects of the pandemic. The London-listed company said that while it will not pay an interim dividend due to ongoing uncertainty related to Covid, it planned to resume its payout at the end of its 2021 [...]
Exclusive: UK esports funding hits record high amid lockdown gaming boom July 28, 2021 British esports startups enjoyed record levels of investment last year as surging interest in the sector during Covid lockdowns helped fuel a major cash injection. Esports firms raised £42m in 2020, which was a record year for both value and number of deals. The momentum has continued into 2021, with eight deals worth £15m already [...]
Converted: London Jehovah’s Witnesses HQ to start new life as film studio July 27, 2021 The former headquarters of the UK Jehovah’s Witnesses in north London will be given a fresh start as a film and TV hub in a bid to tap into surging demand for studio space. Flexible workspace firm Purpose has snapped up the 200,000 square feet site in Mill Hill and plans to transform it into [...]
