Competition watchdog orders Facebook owner Meta to sell Giphy October 18, 2022 The competition watchdog told Facebook’s parent firm Meta this afternoon that it would need to dump Giphy, marking the first time the regulator has blocked a deal struck by a Big Tech firm. In its “final decision”, the Competition and Markets Authority (CMA) ruled that the combination of the two companies would allow Meta to [...]
Uber Eats launch quick commerce partnership with Iceland October 18, 2022 Uber Eats has launched a new quick commerce offering this morning, trialling a new partnership with Iceland to deliver groceries across London. Following the success of rapid delivery start-ups like Gopuff, ‘Uber Eats Market’ will use Uber’s technology and Iceland’s in-store infrastructure to deliver goods in as little as 20 minutes. Over 1000 branded and [...]
Greta Thunberg: Some climate protests may do more harm than good October 18, 2022 Greta Thunberg has said the methods used by some climate activists have gone too far, suggesting they could do more harm than good for public opinion. The teenage activist said she was concerned that groups may sometimes alienate rather than drive home meaningful change when they take action. “The climate movement has a lot of [...]
Panmure eyes up merger with top rival finnCap October 17, 2022 Panmure Gordon is eyeing up a merger with its London-listed rival finnCap as the industry grapples with a deal slowdown and increased need to make savings. Investment bank Panmure, which is controlled by Bob Diamond’s Atlas Merchant Capital, is reportedly in early stage talks with the financial services firm, as first reported by Mark Kleinman [...]
Lookahead: Ad tier to distract from falling Netflix subscribers October 17, 2022 Netflix’s new ad tier could act as the perfect distraction for falling subscribers, as the streamer gears up for its third quarter results tomorrow evening, analysts said. With Netflix estimated to add one million new signups globally in the latest quarter, Cowen & Co analyst John Blackledge said that heavier focus may be placed the new ad tier [...]
Rees-Mogg opens talks with British Steel owner over bailout and jobs October 17, 2022 The business secretary has reportedly opened formal talks with the owner of British Steel about a taxpayer bailout and job cuts. As first reported by Mark Kleinman for Sky News, Jacob Rees-Mogg wrote to parent firm Jingye Group last week and agreed that British Steel would maintain its current operations and 4000-strong work force during the [...]
Shares jump for housebuilders as stamp duty survives mini-budget u-turns October 17, 2022 Shares jumped for this afternoon after stamp duty cuts survived Jeremy Hunt’s mini-budget backtrack. Major players like Barratt Developments, Persimmon and Taylor Wimpey all saw their stock rally after the new chancellor’s emergency statement this morning. Barratt’s shares climbed nearly four per cent, whilst Persimmon and Taylor Wimpey were up nearly five per cent. Hunt [...]
Talk of studio sale sends ITV shares soaring October 17, 2022 With shares down over 40 per cent this year, ITV was lifted this afternoon following rumours that it was mulling a sale of its studio arm. According to initial reports from the Financial Times, the maker of both Coronation Street and Love Island is said to be actively reviewing whether to dump its stake in [...]
Kanye West snaps up free speech social media firm Parler in bid to ‘change the world’ October 17, 2022 Kanye West is set to buy right-wing social media app Parler, with the vision to “change the world” with a new free speech vision. Parler was banned by both Google and Apple in 2021 after it was used during the Capitol riots in Washington DC. It was accused of the proliferation of posts on violent political [...]
JP Morgan tops quarter estimates whilst Morgan Stanley misses the mark October 14, 2022 JP Morgan reported a less-than-feared 17 per cent fall in third-quarter profit this afternoon, while Morgan Stanley posts a revenue plunge. JP Morgan’s adjusted profit was $3.36 per share, above analysts’ average estimate of $2.88, according to Refinitiv data. JP Morgan chief Jamie Dimon said that consumers in the US were continuing to spend despite [...]
