Elon Musk offloads another £2.9bn of Tesla shares sparking investors’ fury December 15, 2022 Elon Musk has offloaded a further $3.6bn (£2.9bn) worth of Tesla shares, sparking the fury of several investors. The serial entrepreneur announced late last night he relinquished 22 million of the EV giant’s shares between Monday and Wednesday. The $3.6bn sale is the second time Musk has sold part of his stake in the company [...]
Tech start-ups tell No10 they will lose £1b if rebate cuts go ahead December 15, 2022 A number of UK based start-ups have written to Prime Minister Rishi Sunak, requesting that he rethink the slashed rebates for small and medium businesses. The government’s Autumn statement has limited the tax credits available to mid level companies in a bid to increase rebates available to larger businesses. According to tech start-ups this will [...]
Netflix banks on Harry and Meghan to bring the big bucks December 15, 2022 Netflix is counting on the final three episodes of Prince Harry and Meghan Markle’s docu-series to give their viewership an end of the year bump. The online streaming service lost over 1.2 m subscribers in the first quarter of 2022, and its share prices had declined by over 60 per cent by October. Netflix had [...]
Chaos at Heathrow averted as ground handlers suspend 72-hour strike December 15, 2022 Chaos at Heathrow has been averted as ground handlers u-turned and called off a 72-hour strike following an eleventh-hour deal. Members of the union Unite working for aviation firm Menzies have decided to call off tomorrow’s walkout after receiving an improved pay offer. “As an act of goodwill, the strike action scheduled to begin tomorrow [...]
Apprentice star Kathryn Burn: Royal Mail strikes ‘complete nightmare’ for small businesses December 15, 2022 The Apprentice star and small business owner Kathryn Burn has said the Royal Mail strikes are a “complete nightmare” for retailers and accused posties of being “almost greedy.” Burn, who owns the My Christmas Pyjamas and Pyjamily brands, told CityA.M. that protracted industrial action over retail’s ‘golden quarter’ had “made my job very, very hard.” [...]
70 per cent of Brits have better internet than last year according to Ofcom December 15, 2022 Ofcom’s latest report shows that nearly 70 per cent of the UK is covered by gigabit-capable broadband. This is an improvement from 2021 when only 47 per cent of the UK was covered by fast internet, with at least 12m homes now connected to full fibre broadband. The report on the UK’s digital infrastructure showed [...]
Spotify asks Apple to play nice, tiff between tech giants gets heated December 15, 2022 A podcast featuring Spotify’s CEO called Apple out for making the tech market unfair. Spotify has been campaigning for years to have free and fair market competition in the tech sector and have levelled accusations that Apple is harming developers and other streaming services. Over the years Apple has refused to allow competing app stores [...]
Bank of England sends interest rates to 14-year high but slows hike cycle to 50 points December 15, 2022 The Bank of England today sent interest rates to their highest level since October 2008, although it slowed the pace of increases to avoid unnecessarily intensifying a looming recession by squeezing households and businesses’ finances. Threadneedle Street’s monetary policy committee (MPC) voted 6-3 in favour of a 50 basis point rise to 3.5 per cent, [...]
18-year-old Brit arrested in international raid on hacker-for-hire sites December 15, 2022 An 18-year-old in Devon has been arrested by the UK’s National Crime Agency (NCA) following a series of international raids on DDoS-for-hire websites. The international operation – dubbed Operation PowerOFF – saw the FBI, NCA, Europol, and Netherlands Police shut down 48 of the world’s most popular DDoS-for-hire sites. DDoS-for-hire sites – also known as [...]
Platform staff accept Network Rail’s pay offer December 15, 2022 Platform staff at Network Rail are getting closer to ending their industrial dispute after members of the union TSSA accepted a pay increase. The union – which didn’t have any strike action planned after calling off its walkout on 17 December – said 85 per cent of members voted in favour of the proposal. As [...]
