Uber ups profit guidance as ride-hailing and food delivery continues to boom March 7, 2022 Shares in Uber have climbed nearly four per cent in premarket trading this morning, with the tech giant raising its first-quarter profitability guidance thanks to a record number of cab journeys and booming food delivery orders. Uber said in a filing that it now expects adjusted earnings before interest, taxes, depreciation and amortisation of $130m (£98m) to [...]
Shape Of You: Ed Sheeran defends hit song in copyright legal battle March 7, 2022 British pop singer Ed Sheeran has given evidence at the High Court this morning as his three-week copyright case over the hit song Shape of You continues. Sheeran is involved in a dispute with two songwriters Sami Chokri and Ross O’Donoghue who claim that the 2017 tune rips off parts of their song Oh Why. [...]
Government introduces new telco laws to end ‘no bar blues’ March 7, 2022 The government have laid out new laws, which look to enhance its 5G roll out and remove signal blackholes across the country. The new laws will put tougher legal duties on operators to minimise the visual impact of network equipment, particularly in protected areas such as national parks and conservation areas. However, it will equally [...]
EE teams up with Nokia to boost network coverage on 200 UK streets March 7, 2022 EE has deployed 200 mobile radio cells across its UK network to boost capacity in high demand areas, allowing customers to benefit from download speeds up to 300Mbps. Small cells help provide better coverage for customers at street level, where it’s often impractical to build larger sites, and 300Mbps can be quantified as downloading a movie [...]
Watchdog gives Amigo Loans green light to resume lending following customer compensation backlash March 7, 2022 Shares in the sub-prime lender Amigo Loans soared as much as 81 per cent this Monday after a financial regulator said the firm could resume lending subject to conditions and if its new business rescue plan was approved by the High Court. Amigo’s stock took a beating last year after the High Court stated that it [...]
South Kensington’s The Exhibitionist Hotel sold for £10.6m March 7, 2022 BNP Paribas Real Estate has sold the iconic The Exhibitionist hotel in South Kensington for £10.6m to an undisclosed buyer. Following a competitive bidding process on behalf of its unnamed client, the 37-bed freehold boutique hotel on Queensberry Place was snapped up for 15 per cent over its quoting price; it is the first time [...]
AstraZeneca injects further £100m in Cambridge research centre March 7, 2022 AstraZeneca injects another £100m over budget to complete its Cambridge-based research and development centre. The Discovery Centre, or the ‘Disc’ as it is also known, was formally unveiled in November by Prince Charles and business secretary Kwasi Kwarteng. According to The Times, the site has cost the vaccine-maker £1.1bn, which is more than three times [...]
Private equity deals made by the mega rich hits highest in a decade March 7, 2022 The value of UK private equity deals undertaken by wealthy individuals has hit the highest in a decade, doubling to £2.3bn last year. According to data from law firm Boodle Hatfield, low interest rates have made it easier for the society’s most affluent to fund private equity deals, with many looking to access asset class [...]
A third of mid-market firms were whacked by hacker outages in 2021 March 7, 2022 New research has revealed that one in three mid-market firms suffered from a hacker induced outage in 2021. According to a report by cyber firm Censornet, one in five companies were forced to pay hackers to deactivate ransomware, with the average pay-out hitting £144,000, and seven per cent handing out more than £500,000. “For the [...]
Shipping firm Convelio raises record £26m for art logistics March 7, 2022 Shipping firm Convelio announced this morning that it has raised a further $35m (£26m) in Series B funding, marking the world’s largest investment in arts logistics.
