UK banks handling interest rates better than US counterparts – but are lagging on AI August 15, 2023 UK financial services execs are coping better with the bleak market conditions compared to their US counterparts, according to a study by New York-listed Fidelity National Information Services (FIS). While 91 per cent of financial services company executives in the US have expressed that soaring interest rates have been hampering their investments, only 78 per [...]
Gambling giant 888 turns page from scandals with William Hill boost August 15, 2023 Betting giant 888 has said its acquisition of William Hill has helped boost its revenue up 165 per cent. The firm said in the six months ended 30 June, revenue flew up 165 per cent, with adjusted earnings before interest, tax, depreciation and amortisation up 211 per cent thanks to its purchase of world’s biggest [...]
Most European financial services bosses wary of ‘unintended consequences’ of AI August 14, 2023 A new survey has revealed the extent to which chief executives of European financial services companies are concerned about the potential dangers of AI. The latest EY CEO Outlook Pulse Survey has revealed that 63 per cent of financial services bosses are concerned not enough is being done to manage the “unintended consequences” of artificial [...]
Anthropic secures $100m boost from SK Telecom for new AI venture August 14, 2023 Anthropic, the US artificial intelligence startup founded by ex-OpenAI luminaries, is set to receive $100m (£78.7m) in backing from South Korean telecoms company SK Telecom (SKT). The cash injection will fund the creation of a multilingual large language model (LLM), jointly developed by Anthropic and SKT, according to an announcement made by the telecoms giant [...]
BBC sells iconic Maida Vale Studios to Hans Zimmer August 14, 2023 The BBC has sold its iconic Maida Vale Studios to a partnership of film producers and composer Hans Zimmer for an undisclosed sum. Once echoing with the sounds of music legends like The Beatles, David Bowie and Dusty Springfield, the recording hub has been sold to a partnership between film producers Tim Bevan and Eric Fellner, [...]
SoftBank aiming to buy back Arm stake ahead of high-stakes New York IPO August 14, 2023 SoftBank is reportedly in talks to buy back the remaining 25 per cent stake in Cambridge-based chip designer Arm its own investment unit established in 2017. In a strategic move ahead of Arm’s impending float in New York, Japanese tech company SoftBank is looking to regain Vision Fund’s quarter stake in order to fully own [...]
Glantus: Another listed tech firm set to go private as KKR-Accel vehicle completes raid August 14, 2023 London-listed software outfit Glantus is set to go private after receiving a £17.8m offer from the KKR-Accel-backed Basware. The boards of directors of both companies have reached an agreement on the deal, which values Glantus at around £17.8m and implies a total enterprise value of £29.5m. Under the proposed deal, Glantus shareholders will receive £0.3342 [...]
More streaming mergers are ‘inevitable’ say experts August 14, 2023 A tie-up trend is taking root in the streaming industry. Video on demand providers are scratching around for more subscribers and trying to secure their footing in a crowded market.
Taking the Mickey: Disney hikes subscription costs 27 per cent – even as users fall by 11 million August 10, 2023 Disney has upped subscription prices and is rolling out an ad-supported plan despite losing subscribers since February. Current users of the Disney+ advertising-free plan now face a 27 per cent price hike for the streaming service, which features Disney classics and the Marvel franchise movies among other shows. Disney+ is set to launch a new [...]
Entain sets aside half a billion for investigation into alleged Turkish bribery offences August 10, 2023 Ladbrokes owner Entain has set aside an ‘eyewatering’ £585m to cover a potential settlement as it nears an end of a bribery investigation into its legacy Turkish facing business, launched in 2019. In an update posted this morning, the global betting giant said it has “a sufficient degree of confidence to take a provision of [...]
