Tencent-backed energy researcher snags £33m in race for fusion power February 14, 2022 Fusion energy research company First Light Fusion has rounded off its Series C with £33.2m, after Chinese technology giant Tencent waded into the fundraiser. Braavos Capital joined Tencent as a new investor, as fusion energy pulls in capital-heavy firms with the lure of a limitless, and carbon free source of energy. Existing investors include IP [...]
UK videogame investment booms with M&A hitting £1.9bn in 2021 January 31, 2022 The UK gaming industry flourished in the past year, as the pandemic turned gaming into a social activity, expanding demographics and a widening its consumer base. M&A deals for UK video game makers hit £1.9bn in 2021, a 63 per cent increase on the £1.2bn in 2020, according to research from accountancy and business advisory [...]
Why the travel industry needs to embrace cryptocurrency January 27, 2022 Can the travel industry offer digital nomads an alternative crypto payment option as they further integrate crypto into their lives?
TikTok’s rocket revenue slows down as China tightens grip on big tech January 20, 2022 TikTok's momentous ascent may be slowing as insiders reveal that revenue grew by 70 per cent year-on-year to around $58bn in 2021, down from its 100 per cent growth rate in 2020.
Sony faces biggest share fall since financial crisis following Microsoft’s £55bn bid for Call of Duty maker January 19, 2022 Japanese tech giant Sony experienced its biggest one-day share drop since the global financial crisis on the Tokyo market, following Microsoft’s $75bn (£55bn) bid for Call of Duty maker Activision Blizzard.
When tech giant becomes gaming giant: Microsoft buys Call of Duty maker Activision Blizzard for a record £51bn January 18, 2022 Microsoft have announced that it would buy videogame publisher Activision Blizzard for $68.7bn (£51bn) in cash, making it the largest deal in the sector.
Tencent leads $96m funding round into Dublin restaurant tech firm Flipdish January 13, 2022 Tencent has led a $96m funding round into Dublin-based restaurant tech firm Flipdish which values the firm at $1.25bn.
Tencent dishes out over $16bn to shareholders in JD.com windfall December 23, 2021 Chinese tech giant Tencent is set to dish out $16.4bn to its shareholders in the form of the majority of its stake in JD.com. The move will see the gaming and social media group cut its holding from 17 per cent to just 2.3 per cent. It means Tencent will step down from the helm [...]
China hands out new fines to tech giants in anti-monopoly crackdown November 20, 2021 Chinese tech giants including Alibaba Group and Tencent Holdings have been fined for failing to report corporate acquisitions, adding to an anti-monopoly crackdown by the ruling Communist Party. The companies failed to report 43 acquisitions that occurred up to eight years ago under rules on “operating concentration”, according to the State Administration for Market Regulation. [...]
City Moves: Who’s switching jobs in the Square Mile today? November 12, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. BGF Business Growth Fund (BGF) has appointed a new head of ESG and sustainability, who will be tasked with embedding the new investor focus into the fund’s new and existing portfolio companies. Roshni Bandesha has spent the [...]