Starmer says Tories are ‘dragging feet’ in making platforms pay for news November 1, 2022 Sir Keir Starmer has backed calls to make social media platforms pay for news content, accusing the government of dragging its feet on the matter. Writing for campaign group Journalism Matters, the leader of the opposition said that big tech’s dominance of the online advertising space is to the detriment of consumers, other rivals and [...]
Apple’s main iPhone maker heads for production woes as Covid curbs tighten October 31, 2022 Apple’s main mobile maker Foxconn is preparing to shift production to other parts of China as Covid curbs continue to tighten across the country. Sources told Reuters that the production of the iPhone could slump as much as 30 per cent following the factory disruption. The main plant in Zhengzhou employs over 200,000 people and [...]
‘Royal Mail have just declared war on your postie’: Union snubs yet another pay offer October 31, 2022 Postal workers have warned the public that “Royal Mail have just declared war on your postie”, batting away yet another pay offer from the firm. Royal Mail today proposed a new conditional pay-for-change offer to the Communication Workers Union (CWU) worth nine per cent for CWU-grade colleagues. The offer includes a seven per cent salary [...]
M&C Saatchi dodges hostile takeover as offers lapse October 31, 2022 M&C Saatchi has dodged its hostile takeover, with offers from both Next 15 and AdvancedAdvT lapsing. The advertising titan confirmed that directors were unable to back the conditions outlined in Next 15’s “Scheme Document”, and the offer had now expired. Although Next 15 cleared its final regulatory hurdle earlier this month, the offer needed some 75 [...]
Twitter plans to charge users $20 for blue tick verification as Musk pushes for revenue growth October 31, 2022 Elon Musk is reportedly gearing up to introduce paid verification on Twitter in a bid to drive up revenue. According to initial reports from The Verge, Twitter is currently planning to charge $19.99 for the new Twitter Blue subscription, adding to the current optional premium offering it has. According to insiders and internal correspondence seen [...]
Asda completes £611m swoop for Co-op’s petrol business October 31, 2022 Asda has completed a £600m deal to buy the Co-op’s petrol business Asda this morning. The deal includes 129 petrol forecourt sites, spread across the UK and represents five per cent of Co-op’s retail estate of 2,564 stores. Co-op said it would use the proceeds to reinvest in the convenience business and reduce net [...]
Awkward questions in Canary Wharf as HSBC accused of pumping ‘sustainable bonds’ into fossil fuels October 31, 2022 HSBC has allegedly pumped billions of dollars into fossil fuels, deforestation and air travel and labelled it “sustainable finance”. A new investigation investigation by the Bureau of Investigative Journalism and the BBC has suggested that at least $2.4bn of deals that the bank counts towards its sustainability goals were actually contributing to climate change. HSBC has committed [...]
‘You need to try harder’: Sunak confronted by patient over nurses’ pay October 28, 2022 Rishi Sunak has been called out over nurses’ pay during a visit to a south London hospital this afternoon. In a visit to Croydon Hospital, the prime minister was confronted by 77-year-old Catherine Poole, a patient, who said it was a “pity you don’t pay them more” in reference to the surrounding nurses. Sunak replied [...]
‘The bird is free’: Elon Musk’s $44bn Twitter takeover gets mixed reaction October 28, 2022 After months of uncertainty, the world’s richest man, Elon Musk, finally completed his $44bn takeover of Twitter. The billionaire entrepreneur announced the long-awaited deal, tweeting this morning: “The bird is free”. The owner of Tesla made a dramatic entrance to the company’s San Fransisco HQ on Wednesday evening carrying a porcelain basin, tweeting: “let that [...]
The torrid week for tech continues as Amazon sheds £175bn October 28, 2022 The torrid week for tech continued last night, with Amazon leaving investors bewildered and Apple somehow defying the trend of its Silicon Valley cousins. Amazon shares tumbled as much as 18 per cent on Thursday night, wiping $202bn (£175bn) off its valuation. The major sell-off came after the e-commerce giant warned against weaker consumer spending [...]
