White House pushes ahead with plans to ban Tiktok ‘in weeks’ July 16, 2020 Chinese social media platform Tiktok could be banned in the US in a matter of weeks, after the White House last night said it was reviewing “national security risks” related to the app. Bytedance-owned Tiktok and other Chinese apps have been accused by US officials of harvesting user data and sharing it with Beijing’s government. [...]
Privacy Shield: Top court rejects US-EU data transfer tool July 16, 2020 The European Court of Justice has struck down a data sharing deal between the EU and the US over surveillance concerns, in a huge blow for thousands of companies that rely on it. Judges at Europe’s top court expressed concern that data shared between the bloc and US via the Privacy Shield agreement is “not [...]
Gresham House reports spike in assets under management July 16, 2020 Investment firm Gresham House reported a £467m spike in assets under management (AUM) in the first half of the year, despite tough market conditions due to the coronavirus crisis. Gresham House’s AUM grew 17 per cent to £3.3bn over the six months to 30 June 2020, of which £283m was organic growth. The group said [...]
Prime Minister suggests moving Parliament to York July 16, 2020 Boris Johnson has suggested that MPs could temporarily decamp to York while the Palace of Westminster undergoes renovation, in what could count as one of the most radical shake ups to to Parliament in decades. In a letter to David Goldstone, chief executive of the Palace of Westminster’s multibillion pound restoration, the Prime Minister said [...]
Fees plunge at Hays as coronavirus hammers hiring July 16, 2020 Net fees at recruitment firm Hays plummeted by a third in the latest quarter, as coronavirus pressed paused on hiring and caused a huge spike in unemployment around the world. The FTSE 250 company, which provides recruitment services in 33 countries globally, reported a dent in hiring in every region in the world, with the [...]
Simon Cowell buys out Sony Music Entertainment from joint venture July 15, 2020 Simon Cowell has bought out Sony Music Entertainment’s stake in their joint talent and production company, handing the TV presenter total control over the company after more than 11 years of partnership. Cowell today announced he has bought Sony’s 75 per cent stake in Syco Entertainment, which owns TV franchises Got Talent and The X [...]
BBC to make 520 job cuts in news department July 15, 2020 The BBC has said it will axe 520 jobs in its news department as a result of the coronavirus crisis, marking 70 more redundancies than the broadcaster had originally planned. The BBC said in January that it intended to axe 450 jobs within its news department, but plans were put on hold due to the [...]
New York Times moves staff out of Hong Kong following new security law July 15, 2020 The New York Times is set to relocate staff at its Hong Kong bureau to South Korea, after a new security law imposed by China has raised concerns surrounding press freedom in the city. The US news outlet yesterday said the new security law, which hands Beijing sweeping powers to arrest Hong Kong citizens suspected [...]
Guardian to axe 180 jobs as revenue plunges July 15, 2020 The Guardian has announced plans to cut 180 jobs in both its editorial and commercial departments, after revenue plunged more than £25m during the coronavirus crisis. The newspaper group said the job cuts will mostly affect its advertising, Guardian Jobs, marketing and Guardian Live departments, with 70 additional redundancies in its editorial unit. The job [...]
Coronavirus eats into Finsbury Food revenue as sales sink during lockdown July 15, 2020 Cake manufacturer Finsbury Food Group said it expects annual sales to dip slightly in 2020 as a plunge in sales during the second half of the year during the coronavirus crisis diluted progress made last year. The bakery group said second half sales slumped as a result of the national lockdown, with sales sinking 24 [...]
