Audioboom hopes new ad strategy will power recovery as it reports net loss July 19, 2023 Podcasting platform Audioboom today posted a net loss of $1.8m (£1.4m) for the first half of the year, but said that its new advertising strategy would see the firm “emerge from the economic downturn in a position of strength”. Revenue for the first half of the year came in at $31.8m (£24.6m), down from $40.9m [...]
TNT Sports replaces BT Sport in ‘clean slate’ – but bumps lie ahead July 18, 2023 TNT Sports will appear on the television screens of sport fanatics across the UK and Ireland from today, replacing BT Sport. It was revealed in February that BT Sport would undergo a rebrand to TNT Sports as part of a deal between the broadband giant and Warner Bros. Discovery (WBD), signed last autumn. The media [...]
Countdown on for Microsoft and Activision as they try to extend deal deadline July 18, 2023 Time is ticking for Microsoft and Activision Blizzard, which are reportedly in discussions to extend the deadline for their proposed multi-billion pound tie up. Originally set to be closed by today, the deal may now require more time as the two tech companies work to address regulatory concerns, according to sources close to Reuters. If [...]
Darktrace share price spikes after EY review finds ‘no skeletons in the closet’ July 18, 2023 Shares in Darktrace shot up over 20 per cent this morning after it revealed that a review of its accounts found a “number of areas” for improvement but were not “material” to its financial reporting. The London-listed cybersecurity company hired EY in February to review its books after a short seller questioned its accounts. New York-based hedge [...]
Revolution Beauty chief exec and chair quit in Boohoo settlement as share price soars July 18, 2023 The row between Revolution Beauty and Boohoo may finally be nearing an end, with a settlement reached including the departure of the former’s chief exec and chair. Revolution’s boss Bob Holt and chair Derek Zissman will leave, but Holt will remain as interim boss until the end of August 2023. Following the news, Revolution Beauty’s [...]
Live music gives London a £2bn boost – but venues are still battling rising costs July 18, 2023 Economists and melomaniacs alike have reason to cheer the capital’s post-pandemic musical revival with the capital’s coffers given a £2bn boost by large and small concerts alike. Nearly 5m music lovers flocked to the capital last year to attend live music events, according to a report from UK Music, filling hotels, bars and restaurants. The [...]
UK optical chip company Optalysys bags £21m in funding for ‘groundbreaking’ encryption tech July 17, 2023 A UK chip designer has secured £21m in a Series A round of investment as it looks to enhance its “groundbreaking” data-sharing security that could pave the way for new levels of encryption able to defend users even from quantum computer-using hackers. Leeds-based Optalysys has secured the funding led by investment companies Lingotto and Northern [...]
Post Office scandal: Government urged to sort compensation delays for victims July 17, 2023 Sir Wyn Williams, chair of the Post Office Horizon IT inquiry, has called on the government to address compensation issues faced by sub-postmasters affected by the scandal. In an interim report presented to parliament today, Williams recommended legislative changes and stronger support for the Horizon Compensation Advisory Board. He brought forward the investigation of compensation [...]
Seraphim: Investment deals take off as UK ranks third globally July 17, 2023 Seraphim Space has reported that overall startup activity and later-stage funding within the space tech industry are at higher levels than ever before, according to its half year investment index published today. Globally, the UK ranks as having the third-highest number of space deals in the past 12 months at 39, trailing behind the US [...]
New data: Cost-cutting and restructuring helps keep restaurant industry alive July 17, 2023 Bank of England interest rate rises could threaten the UK restaurant sector’s return to profitability, according to national accountancy group, UHY Hacker Young. The group say the percentage of UK restaurant companies turning a profit has more than doubled from 35 per cent to 78 per cent in the past year, but recent rate increases could [...]
