Facebook buys up LiveRail for around $500m July 3, 2014 Facebook has announced it has bought online video advert targeting firm LiveRail, as the social network site seeks to gain from fast growing revenues in online video advertising. LiveRail, founded in 2007, works to help target more relevant adverts for online videos, and does business with a range of companies, including DailyMotion and Major League [...]
Young have top IT skills, but lack literacy and numeracy, says CBI July 3, 2014 Young people entering employment now have excellent IT skills, but are still lacking basic literacy and numeracy, according to a survey by the Confederation of British Industry and Pearson on education and skills released today. The poll, which included the views of 291 companies employing more than 1.5m people, found that 96 per cent of [...]
Blinkx share price in free fall after profit warning July 2, 2014 Video search and advertising group Blinkx yesterday shocked investors by warning that its first-half earnings are set to be $5m (£2.9m) lower than management expectations, causing its shares to lose more than half of their value. The Aim-listed company blamed industry-wide issues around the efficiency and effectiveness of online advertising, as well as a lingering [...]
Facebook to face UK probe over user study July 2, 2014 BRITAIN’S data protection commissioner yesterday announced it would investigate Facebook over whether it had broken the law by conducting a controversial psychological experiment in 2012 on nearly 700,000 users without their consent. Facebook’s chief operating officer Sheryl Sandberg yesterday apologised for “communicating really badly” about the experiment, which adjusted users’ news feeds to determine the [...]
Twitter hires its IPO banker July 1, 2014 Twitter yesterday announced the appointment of former Goldman Sachs banker Anthony Noto as its new chief financial officer. Noto, who played a key role in driving forward Twitter’s flotation last year, joins the team just as the social media platform is struggling to add new users. Its share price that has plunged around 40 per [...]
Ousted American Apparel boss snaps up more shares July 1, 2014 THE CONFLICT between American Apparel and its controversial founder intensified yesterday, as it was revealed in a US regulatory filing that Dov Charney had increased his stake to 43 per cent of the company. Charney – fighting to reclaim the positions from which he was recently ousted – now holds 74.56m shares, representing a 27 [...]
FirstGroup share price hit by critical letter from investor Tom Sandell June 30, 2014 FirstGroup shares fell 2.69 per cent to 126.60p yesterday, following high profile criticism of management pay at the rail and bus company by activist investor Tom Sandell. The comments in an open letter said that management had “significantly underperformed” and had increased remuneration was not “deserved”. However, yesterday sources close to the company raised doubts [...]
Newspaper publisher Mecom Group sold for $196m to De Persgroep June 30, 2014 Mecom Group, the London-listed newspaper publishing group, has seen its tumultuous years of difficulties come to an end after being sold for £196m to Belgium-based media company De Persgroep. Under the terms of the agreement, announced yesterday, De Persgroep will pay each Mecom shareholder 155p a share in cash, equating to a 35 per [...]
Abcam chair stands down June 30, 2014 MIKE Redmond, the chairman of global biotechnology company Abcam, will step down from the board after the company’s annual general meeting later this year, the firm announced yesterday. Abcam, which was founded in 1998 and is a producer and distributor of high quality innovative protein research tools, has a catalogue of more than 130,000 products [...]
Carlyle ponders sale of London minicab firm Addison Lee June 30, 2014 Carlyle Group, the US-based private equity firm, is considering selling Addison Lee, the London minicab company. The decision is part of an evaluation of the business, which Carlyle bought a majority stake in for around £300m in April 2013. The evaluation, to be conducted by Credit Suisse and likely to be completed by autumn this [...]
