More trouble for Black Friday as DS Smith workers vote to strike November 7, 2022 Workers at packaging giant DS Smith voted in favour of strike action this afternoon, adding further pressure on the likes of Amazon in the run up to Christmas. The GMB union said that almost 1000 staff voted for action, adding that the move could have “serious implications” on household names like Amazon who rely on [...]
Facebook owner Meta gears up for mass job cuts November 7, 2022 Things seem to go from bad to worse for Meta, with the Facebook owner gearing up to announce mass layoffs this week. Sources told the Wall Street Journal that thousands of jobs are set to be culled, as the firm fends off the wider tech sell-off and slowing advertising spend. Meta declined to comment on [...]
Philip Morris finally wins backing for £13bn Swedish Match deal November 7, 2022 Malboro maker Philip Morris International finally wins support for its $15.7bn takeover of Swedish Match, despite securing slightly less than 90 per cent of backing. PMI said said it nabbed 82.59 per cent of the Swedish company, short of the 90 per cent level at which it can start a compulsory purchase of remaining shares. [...]
Duolingo chief backs London tech scene and World Cup language boom November 7, 2022 The man behind Duolingo says he backs London as a thriving tech hub, despite concerns about digital talent gaps. Speaking with City A.M., chief executive Luis von Ahn praised the UK’s artificial intelligence capabilities, as well as its “really good universities,” explaining that the US firm was looking to grow its four-person team in the [...]
Exclusive: LSE’s chief of tech swaps markets for climate ratings with BeZero Carbon move November 7, 2022 The London Stock Exchange’s chief of tech has jumped ship to ratings agency BeZero Carbon, swapping the markets for climate technology. As the new CTO, James Turck will be responsible for driving forward the London firm’s investment to build out ratings, as well as the risk and analytics tools that help to scale the voluntary carbon [...]
Retailers bet on coronation boost after extra May bank holiday announced November 6, 2022 Retailers are hoping for a royally big boost next year after the government announces an extra bank holiday for King Charles III’s coronation. In an announcement today, Prime Minister Rishi Sunak confirmed the UK-wide holiday would fall on Monday 8 May, following the Coronation on Saturday 6 May. “The Coronation of a new monarch is [...]
Elon Musk fends off daily losses with jobs and ticks November 6, 2022 Musk’s Twitter shake-up continued at pace this weekend, with thousands of employees sacked and paid blue-tick verification firmly on the table for UK users. While Twitter has remained relatively quiet since the Tesla founder completed his $44bn (£39bn) takeover, the social media company confirmed that it would now allow users to buy blue-tick verified status. [...]
Elliott backs Philip Morris’ sweetened £13bn bid for Swedish Match November 6, 2022 Swedish Match’s biggest investor Elliott Management has reportedly agreed to back Philip Morris International’s $15.7bn (£13.8bn) swoop for the firm. Sources told the Financial Times that the deal now had more than 80 per cent of shareholder acceptances, with more expected to be submitted tomorrow. Under Swedish takeover rules, PMI’s offer is conditional on gaining [...]
Weekend exclusive: Slack can’t be blamed for ‘quiet quitting’ says VP November 6, 2022 Tech could be a solution rather than a driver of the ‘quiet quitting’ phenomenon, says Slack vice president Pip White. Working at one of the biggest winners of the pandemic, White is understandably reluctant to admit that the remote working tool contributed to one of the most talked about working trends of 2022. A recent [...]
EU sets eyes on Airbnb in latest data regulation push November 3, 2022 After taking on Big Tech in a swathe of new laws, European regulators are now setting their sights on the short-term home rental industry.
