Alphabet shares dip as profit fails to meet expectations October 28, 2019 Google parent Alphabet missed Wall Street estimates on its third-quarter results tonight, having failed to live up to expectations on profit takings. Alphabet reported earnings per share of $10.12 for the three months to the end of September and net income of $7.07bn, versus expectations of $12.44 per share according to consensus estimates polled by Refinitiv. [...]
Fitbit shares halted on reports of Google takeover bid October 28, 2019 Trading of shares in wearable device maker Fitbit was suspended today following a report that Google owner Alphabet has tabled a takeover bid. The Silicon Valley tech giant has held discussions with Fitbit, although there is no guarantee a deal will be secured, Reuters reported, citing people familiar with the matter. It is unclear how [...]
Volkswagen throws down the gauntlet to Silicon Valley on self-driving cars October 28, 2019 Europe’s biggest car manufacturer has shifted its fight against Silicon Valley’s nascent self-driving car industry up a gear. Volkswagen has announced the foundation of Volkswagen Autonomy, or VWAT, its own self-driving tech subsidiary, to take on the likes of rivals such as Google’s Waymo. Read more: Car alarm: Half of UK consumers fear driverless vehicles [...]
Spotify finance boss behind streaming giant’s direct listing steps down October 28, 2019 The Spotify finance director who masterminded the streaming giant’s unorthodox stock market float is stepping down from the company. Chief financial officer Barry McCarthy will retire in January and will be replaced by Paul Vogel, who is currently the firm’s head of investor relations. Read more: Spotify fails to hit the right note as subscriber [...]
Facebook announces launch of Facebook News October 25, 2019 Facebook has announced the launch of Facebook News, a new platform that will highlight news based on how relevant it is to individual users. In a blog post, Facebook’s vice president for global news partnerships said “Facebook News was built to bring people closer to the stories that affect their lives. We’ll continue to learn, [...]
BBC ‘may not be sustainable’ in current form, media watchdog warns October 24, 2019 The BBC may not be sustainable in its current form as it struggles to win over the attention of younger audiences, the media watchdog has warned. In a damning report published today, Ofcom said the corporation was at risk of a “lost generation” as young people increasingly tune out of its services. The reach of [...]
Discovery wades into streaming wars with ad-funded platform October 22, 2019 Discovery has set out its stall in the increasingly crowded streaming market, launching a free on-demand app in the UK and Ireland. The ad-funded platform, called Dplay, will provide programming from across the media group’s free-to-air channels, including Really, Quest and Home. Read more: Netflix shares rise as it beats profit expectations ahead of streaming [...]
Visual effects firm DNEG confirms plans for £150m London listing October 22, 2019 Oscar award-winning visual effects firm DNEG has confirmed plans to list on the London Stock Exchange, saying it will seek to raise £150m from the float. The London-headquartered company said it intends to sell at least 25 per cent of new and existing shares in a bid to fast track its growth plans. Read more: [...]
Netflix to sell a further $2bn in bonds as it builds up war chest October 21, 2019 Netflix has announced plans to sell roughly $2bn (£1.5bn) worth of bonds as it launches a final push for cash before the onslaught of new streaming rivals. The on-demand video giant said it will issue the bonds in both euros and dollars and will negotiate terms such as interest rate and maturity date with buyers. [...]
Capital & Counties share price climbs as property tycoon Nick Candy eyes bid October 21, 2019 Shares in Covent Garden owner Capital & Counties jumped this morning after high-end property tycoon Nick Candy confirmed he is considering a possible offer for the group. Candy Ventures, the investment vehicle owned by Nick Candy, has said it is in early talks for a possible cash off for Capco, which has a market value [...]