TikTok rides out wider advertising slowdown December 5, 2022 TikTok is expected to ride out the advertising slowdown, as the Chinese-owned social media titan becomes an outlier to the wider industry slowdown. According to a new report published by GroupM, the media buying agency owned by WPP, TikTok doubled its advertising revenue in 2022. “This has likely been another driver of the advertising deceleration [...]
Profits boom for Thames Water despite leak jump December 5, 2022 Thames Water posted nearly £400m in profits for the six months to September, despite the firm grappling with a jump in leaks during the scorching summer. The UK’s biggest water company said pre-tax profits were £398m, swinging from a pre-tax loss of £581m for the same period in 2021. Thames Water said it experienced an [...]
Vodafone group CEO Nick Read to step down within weeks December 5, 2022 Vodafone chief Nick Read will exit the company at the end of December as its share price continues to plunge and investors are left increasingly disgruntled. After four years at the top spot, Read steered Vodafone through the pandemic, narrowing the company’s focus on Europe and Africa, and cutting costs. Nonetheless, telecom expert at CCS [...]
Foxconn faces revenue slump after iPhone factory fallout December 5, 2022 Revenues slumped for Foxconn as the iPhone manufacturing partner feels the sting on ongoing unrest over Covid restrictions and pay. The company reported NT$551bn (£14.7bn) in revenue last month, tumbling 29 per cent from October, and 11 per cent on the year before. November is usually a prosperous period for the firm, as it gears [...]
Macron on Musk: EU officials raise concerns over Twitter December 1, 2022 Top European officials have warned Elon Musk to play by its rules as concerns around hate speech and disinformation amplify. EU commissioner for digital policy Thierry Breton told the new social media owner that he would need to boost efforts to protect users. The bloc recently introduced the Digital Services Act, which is due to come into force next year and aims [...]
Google appeals record £3.5bn EU anti-trust penalty December 1, 2022 Google has filed an appeal with the EU’s top court this afternoon over a record €4.13bn (£3.5bn) fine. The tech giant said it will be challenging the commission’s largest ever anti-trust penalty handed down in 2018 that took aim at its Android operating system, suggesting that it restricted mobile competition and consumer choice. In the [...]
Foxconn boosts efforts to lure in staff as iPhone supply concerns mount December 1, 2022 Apple’s iPhone supplier Foxconn has boosted efforts to lure new employees as unrest continues in the crucial Zhengzhou region. Foxconn is now offering a 1000 yuan award (£117) to any employee that successfully refers a friend or family member to work at the plant. This new employee will need to work at the company for [...]
Royal Mail slams union’s ‘wholly unacceptable behaviours’ at strikes December 1, 2022 Royal Mail has today written to union bosses to intervene in “wholly unacceptable behaviours” on the picket line. Writing to the general secretary of the Communication Workers Union (CWU) Dave Ward, the delivery giant said there had been more than 100 allegations of violence and assault, harassment and intimidation have been reported over the four [...]
Alexa, cut jobs: Amazon targets hardware teams in first culls December 1, 2022 Amazon has started to cut its key hardware teams as the e-commerce giant is forced to slim down operations. Sources told the Financial Times that staff working on the Alexa voice assistant, Kindle ereader and Halo health tracking device are amongst the first to be hit by mass layoffs at the company. It comes after reports [...]
JP Morgan in talks over potential Freetrade takeover December 1, 2022 JP Morgan is reportedly gearing up to buy stock trading app Freetrade in a grand push to expand its fintech offering. According to initial reports from Mark Kleinman for Sky News, the City titan has been in talks with the British stock trading app, which allows customers to buy British, American and European stocks and [...]
