Tech stocks get ready for a rocky road ahead October 24, 2022 BIG TECH braces itself for another testing earnings season, as the biggest names in Silicon Valley post their quarterly figures this week. Kicking off the tumble last Friday, Snapchat posted a rocky quarter, citing squeezed ad spend and ongoing macroeconomic uncertainty as the main driver. Not only has Snapchat’s parent firm lost a quarter of [...]
Former Google boss says regulation must focus on choice rather than tech interference October 24, 2022 Former Google ads boss said the government needs do more to restrict market dominance, but shouldn’t interfere too much with how the tech ecosystem actually works. Speaking with City A.M., former Silicon Valley exec turned search-engine startup founder Sridhar Ramaswamy said that regulators need to find a balance between keeping behemoths like Apple and Google [...]
How to invest in the metaverse October 21, 2022 Crypto AM columnist Jonny Fry digs deep into his wisdom vaults to explain how to invest sensibly in the metaverse.
Advertising cuts continue to sting Snapchat October 21, 2022 Snapchat’s growth continued to plateau this quarter as the advertising slump continues for the social media company. Falling well below most Wall Street estimates, Snap’s said revenue climbed a humble six per cent to $1,13bn, while net losses widened from $72m to $360m. Adjusted earnings before interest, taxes, depreciation, and amortisation was $73m, compared to [...]
The blockchain virtual machine protecting itself from Orwellian CBDCs October 20, 2022 Dr Chris Kacher hails the value of blockchain and the metaverse, but gives both barrels to the notion of CBDCs.
Inside £9bn Battersea Power Station renovation October 20, 2022 It could have become a theme park in the 1990s if developers got their way. But last week the Battersea Power Station building reopened for the first time since the iconic development stopped lighting up London back in 1983. It powered Buckingham Palace and the Houses of Parliament, supplying one fifth of London’s electricity, but [...]
London’s FTSE 100 dragged down by windfall tax rumours hitting UK banks October 19, 2022 London’s FTSE 100 was dragged lower today by investors ditching UK banks on fears they will be hit by a windfall tax by new chancellor Jeremy Hunt. The capital’s premier index fell 0.17 per cent to 6,924.99 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
Ormer Mayfair by Sofian Msetfi is worth the hype October 19, 2022 When the AA Hospitality Awards bestow four AA Rosettes on a restaurant for the first time, it is probably worth taking notice. Especially when it is only one of three awarded the honour in London and the chef, Sofian Msetfi, is only 30. Welcome to Ormer. A stone’s throw from Green Park, this old-school, art-deco beauty [...]
Competition watchdog orders Facebook owner Meta to sell Giphy October 18, 2022 The competition watchdog told Facebook’s parent firm Meta this afternoon that it would need to dump Giphy, marking the first time the regulator has blocked a deal struck by a Big Tech firm. In its “final decision”, the Competition and Markets Authority (CMA) ruled that the combination of the two companies would allow Meta to [...]
As long as the Met is unable to police itself, it shouldn’t be fit to police Londoners either October 18, 2022 With our model of policing relying heavily on public consent, confidence is everything.