Apple to face £768m lawsuit over claims iPhone update slowed down devices June 16, 2022 Apple is set to face a £768m class action lawsuit over claims it misled iPhone users into downloading updates that slowed old iPhones down. Campaigner and consumer champion Justin Gutmann has filed a claim to the competition appeals tribunal, seeking around £768m in damages for up to 25m British iPhone owners. The lawsuit comes after [...]
West End landlords Shaftesbury and Capco push ahead with £3.5bn merger June 16, 2022 West End landlords Shaftesbury and Capital & Counties Properties (Capco) have agreed to push ahead with a £3.5bn merger, which will see much of London’s beloved theatre district fall under one wing. The merger, which had raised the eyebrows of one investor, will see shareholders receive 3.35 new Capco shares for each Shaftesbury share. Combining [...]
London-listed medicinal cannabis company looks to treat brain tumours with CBD June 16, 2022 Medicinal cannabis company MGC Pharmaceuticals has successfully completed a pre-clinical trial in using cannabinoids to treat a type of brain tumour. The London-listed firm said the three-year in-vitro trial into the treatment of Glioblastoma, a fast-growing and aggressive form of brain tumour, delivered “outstanding results”. The study, which used 30 biopsy samples from 18 patients, [...]
Asos warns profit will be hit as shoppers return more clothes amid cost of living crunch June 16, 2022 Asos has warned it is expecting lower profit this year after an increase in customers returning clothes due to the pressures of higher living costs. Asos lowered forecasts for the year, with sales anticipated to be in the range of four per cent and seven per cent, which it put down to “market volatility and [...]
Russia attacking eastern city of Luhansk ‘in nine different directions’ June 16, 2022 Ukraine has said the Kremlin is attacking the eastern Luhansk region from nine different directions. The head of Kyiv’s military said Moscow was launching strikes across the north of the region of eastern Ukraine. This comes amid major concerns about the encirclement of the city of Sievierodonetsk in the Donetsk region, leaving thousands of people [...]
City Moves: Who’s switching jobs in the Square Mile? June 16, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Cromwell Real estate investor and fund manager Cromwell Property Group has hired an abrdn veteran as its new head of investment management for Europe. Having spent a decade at abrdn, Andrew Creighton is set to oversee all [...]
Taco Bell ‘on fire’ as Mexican fast-food chain gears up for 100th UK site June 16, 2022 “We’re on fire” is how Taco Bell International’s president Julie Felss Masino described the Mexican fast food chain’s rollout to CityA.M. After launching 50 sites in the UK over the past decade, the US-based firm has expanded by another extra 50 sites in just the past 18 months. The chain, a subsidiary of Pizza Hut [...]
Even if Google’s chatbot isn’t sentient, we need to think seriously about AI June 16, 2022 Can a chatbot be sentient? That was one of the questions facing Google recently after it put an engineer on leave after he claimed their AI-driven bot talked about “having a soul”. Many of the solutions to the global crises we face will be driven by technological advances. Politicians from across the spectrum espouse the [...]
The intervention of the Strasbourg courts is a short-term win with an enduring threat June 16, 2022 THE OUTRAGE over the plan to send asylum seekers to Rwanda was palpable as the first flight was expected to take off on Tuesday. It was met, almost decibel for decibel, with anger yesterday morning after the decision of the European Court of Human Rights to block the plane from taking off. Many of the [...]
Before giving the CMA more teeth, we should look at its Meta shaped bite marks June 16, 2022 The Competition and Markets Authority (CMA) has been flexing its muscles like a growing schoolboy recently. On Tuesday, it finally got a well-deserved admonishment from the Competition Appeals Tribunal after an appeal by Meta – the company formerly known as Facebook – against the watchdog’s decision to stop it buying Giphy, a provider of moving [...]
