Entain’s betting operator rises on iGaming boom and sports betting gains February 4, 2025 Entain’s sports betting operator, BetMGM, posted strong revenue growth thanks to record iGaming performance and an improved online sports betting strategy. The sports book and iGaming giant told the market on Tuesday that it achieved $2.1bn (£1.69bn) in net revenue for the year, up seven per cent from 2023. Its iGaming division led this growth, [...]
Reeves reviews tech tax as Trump trade war fears mount February 4, 2025 Rachel Reeves is reviewing the UK’s £700m digital services tax (DST) on American tech giants in a bid to avoid Donald Trump’s tariffs. The DST, which was introduced in April 2020, imposed a two per cent levy on UK revenues of major tech leaders like Amazon, Apple and Google. The US previously expressed strong opposition, [...]
YouGov boss ousted as share price plummets under his leadership February 4, 2025 YouGov’s chief executive, Steven Hatch, has stepped down after the firm’s share price more than halved under his charge. YouGov, the international research and data analytics group, reportedly agreed to let go of Hatch with immediate effect. YouGov’s cofounder and current chair, Stephan Shakespeare, will return as interim CEO while the board searches for Hatch’s [...]
Vodafone shares slump as headwinds grow in key German market February 4, 2025 Vodafone shares have plunged more than six per cent in early trade this morning after the FTSE 100 giant reported its third-quarter results. While the group reported overall service revenue growth of 5.2 per cent in the third quarter, beating the average analyst estimate of 4.2 per cent, it noted the migration of 1&1 customers [...]
Microsoft, Meta, Tesla & Apple: What this week’s tech earnings tell us about the AI boom January 31, 2025 Microsoft, Meta, Tesla and Apple kicked off the tech earnings season this week, giving us snapshot of how spending on AI is shaping the tech sector. Here’s what we’ve learnt about the AI boom so far. AI spending shapes the tech sector This week started with the rise of Chinese startup DeepSeek causing headwinds on [...]
Apple reports strong revenue despite iPhone sales decline January 31, 2025 While Apple’s iPhone sales dropped last quarter, the tech giant’s services division more than made up for the decline. The company, which reported results after the market closed on Thursday, said sales grew 3.9 per cent year over year to $124.3bn (£100bn) inline with Wall Street expectations. Net income rose 7.1 per cent to $36.3bn, [...]
Samsung misses estimates as chip demand dwindles January 31, 2025 Samsung Electronics missed chip profit estimates in its fourth quarter, falling short of market expectations of 3 trillion won (£1.68bn) as competition heightened and demand plateaued. In Friday’s report, Samsung Electronics announced a 22 per cent year over year increase in net profit for its fourth quarter, reaching 7.754tr won (£4.65bn). However, this represented a [...]
Microsoft and Meta defend AI spend post DeepSeek shock January 30, 2025 Tech giants Microsoft and Meta both addressed and defended their substantial investments in artificial intelligence (AI), despite recent headwinds. Both firms kicked off the earnings season on Wednesday, just days after Chinese startup DeepSeek broke the internet, as well as the market, on Monday. Its recent global traction followed the release of its new AI [...]
Meta pays Trump $25m to settle Facebook lawsuit January 30, 2025 Meta has agreed to pay $25m (£20m) to settle a lawsuit filed by President Donald Trump back in 2021 over his banned accounts. The president had sued Facebook and Instagram’s parent company, as well as its owner, Mark Zuckerberg, due to his accounts being suspended on its platforms. Meta had banned his accounts following the [...]
Elon Musk says 2025 will be a ‘pivotal year for Tesla’ despite sales slowdown January 30, 2025 On Wednesday, electric vehicle (EV) giant Tesla reported a significant decline in profit for 2024, with its net income dropping over 70 per cent to $2.3bn (£1.83bn). The firm reported a profit of $2.3bn (£1.84bn) in the last three months of the year. Profit at Elon Musk’s group dropped despite an increase in sales, which [...]
