Investor Terry Smith ditches Amazon stake over concerns with grocery business July 11, 2023 Top investor Terry Smith has revealed that he ditched his fund’s stake in Amazon due to concerns with the company’s grocery business. In a letter to investors, released yesterday, Smith revealed that the primary catalyst behind Fundsmith’s decision to drop its holding in Amazon last month was due to a “concern over potential capital misallocation”. [...]
Zoom revamps business model to recover from post-pandemic slump July 11, 2023 Zoom is determined to bounce back from a post-pandemic slump by revamping its business and product offerings, a top boss at the firm has said. “People have got used to a different lifestyle,” necessitating a fresh approach from Zoom, Frederik Maris, head of EMEA at Zoom, told City A.M. Beyond video meetings, Zoom is now [...]
BT successor has their work cut out, say analysts July 10, 2023 The successor of outgoing BT boss Philip Jansen faces a tough job ahead as the company battles poor earnings amid the pressure to rollout 5G, analysts have warned. It comes as BT confirmed today Jansen will step down “at an appropriate moment” within the next year. “Whoever takes the hot seat at BT will be [...]
Vodafone’s £11bn 5G rollout at risk if Three merger is blocked July 10, 2023 Vodafone’s UK boss has warned that the company’s £11bn investment in the UK’s 5G network is at risk if its merger with Three is blocked by the country’s competition regulator. Without the deal, Vodafone “won’t be able to invest as much and we won’t be able to deliver the 5G ambition that’s coming in the [...]
Meta Threads rivalry with Twitter intensifies as lawsuit looms July 10, 2023 Meta and Twitter’s rivalry has escalated with the successful launch of Threads and the threat of a lawsuit, but analysts suggest that Twitter still has fight left. Threads, Meta’s highly anticipated app, amassed over 70m subscribers within days of its recent launch. The app’s availability caused a staggering 455 per cent surge in Meta’s stock, [...]
Taylor Swift Eras tour set to break records as tickets go on pre-sale July 10, 2023 TICKETS for Taylor Swift’s European tour are set to go on sale this week, with predictions of sky-high prices on the secondary market. The star’s highly anticipated “Eras Tour” is expected to make a significant impact as it heads to Europe, with projections it will become the highest-grossing tour of all time, surpassing $1.5bn (£1.17bn) [...]
FT undergoes B2B subscription rebrand in growth drive July 10, 2023 The Financial Times (FT) has given its B2B service a makeover in a bid to attract more subscribers and boost revenue. Rebranded as ‘FT Professional’, the British broadsheet has freshened up its infamous pink palette with a splash of mint green. Catering to over 8,000 businesses, governments and educational institutions worldwide, FT Professional aims to [...]
BA boss to steer airline off cost-cutting course in attempt to save summer season July 9, 2023 British Airways (BA) boss Sean Doyle is determined to salvage the summer season for the airline as it attempts to recover from a series of setbacks and poor customer service under former chief exec Alex Cruz. Doyle has set his sights sky-high in a comprehensive overhaul of the carrier’s operations as he looks to “rebuild [...]
YouTube stars including KSI and Sidemen invest £1.5m in emerging video-podcast studio July 6, 2023 The Fellas Studios, a production company owned by popular YouTubers Callum Airey and Joshua Larkin, has received £1.5m in investment as the brand is set to put ‘video podcasting’ on the map. The burgeoning studio has said it is the “fastest-growing” video podcast house in the UK after it gained significant financial support from YouTube [...]
STV buys Greenbird Media for £21.4m and gains hit series in growth push July 6, 2023 STV has acquired Greenbird Media, an unscripted television production network, for £24.1m today in a “transformative” drive for greater growth across the UK and globally. The Scottish broadcaster, which has brought popular dramas like Antiques Road Trip, Celebrity Catchphrase and Blue Lights to UK television screens, is bolstering its STV Studios production division with the [...]