UK media profit warnings hit record high amid Covid-19 advertising slump August 11, 2020 The number of profit warnings issued by FTSE-listed media companies hit an all-time high in the first half of the year as the coronavirus crisis sparked a collapse in advertising revenue. Between January and June 59 per cent of the media sector issued one or more profit warnings, with 81 per cent citing Covid-19. A [...]
Police use of facial recognition tech ruled unlawful by UK court August 11, 2020 The use of automatic facial recognition (AFR) technology by a UK police force has been ruled unlawful by the Court of Appeal, following a legal challenge in south Wales. The court found South Wales Police’s use of facial recognition technology breaches privacy rights, data protection laws and equality laws, bringing a long-running trial of the [...]
Holiday Inn owner IHG sees signs of recovery in July as consumers book staycations August 11, 2020 Holiday Inn owner Intercontinental Hotels Group (IHG) said it had seen an uptick in bookings in July as holiday makers opt for staycations during the coronavirus pandemic. The figures IHG, which also owns the Crowne Plaza, Regent and Hualuxe hotel brands, saw revenue more than halve to $488m in the first six months of 2020. [...]
Russia names new vaccine after iconic satellite Sputnik August 11, 2020 Russia has named its first approved coronavirus vaccine Sputnik V, in reference to the world’s first satellite launched by the Soviet Union in 1957. The choice in name was selected as a way of comparing the vaccine to what Russia views as its success in becoming the first country to approve a treatment, according to [...]
ITV investigated by watchdog over viewer competitions August 11, 2020 ITV is facing a probe by the media watchdog over its viewer competitions after the broadcaster admitted that some postal entries were never counted in its prize draws. ITV referred itself to Ofcom after discovering that some postal entries were not entered into the winner selection process for six competitions between 2014 and 2019. The [...]
Four charts that show how badly the pandemic has hit UK jobs August 11, 2020 The largest number of people lost jobs in the UK in one quarter since the height of the financial crisis, official statistics showed today. According to data from the ONS, 32.9m people aged 16 years and over are currently in employment, 220,000 fewer than the previous quarter. That’s the single largest decrease since May to [...]
Prudential to spin off US unit to focus on Asia and Africa August 11, 2020 Insurer Prudential said today it planned to spin off its US business Jackson to focus on Asia and Africa, as its adjusted operating profit fell three per cent in the first half. A minority initial public offering (IPO) of Jackson is planned for the first half of 2021, with “full divestment over time”, Prudential said [...]
New Zealand records first coronavirus outbreak in 102 days August 11, 2020 New Zealand has recorded its first locally transmitted coronavirus cases in 102 days. Four positive coronavirus tests have been reported in one family from an unknown source. The only positive cases New Zealand had recorded in the past 102 days had been in quarantine facilities from people coming into the country from overseas. Prime Minister [...]
Revolut trebles loss as digital bank continues to expand customer base August 11, 2020 Digital banking firm Revolut trebled its loss last year as the fintech firm took on three times as many staff to handle its continued expansion. The UK’s most valuable fintech said it booked a £104.7m loss in the 12 months ended 31 December, up from £34.1m the previous year. At the end of December, revenue [...]
Softbank bounces back with $12bn profit thanks to tech boom August 11, 2020 Softbank has bounced back from a record loss earlier in the year after strong performances by its tech investments fuelled a $12bn (£9.2bn) quarterly profit. The Japanese conglomerate plunged to its worst ever annual performance in March after recording a huge $18bn loss for its flagship $100bn Vision Fund. Softbank set out plans for a [...]
