Arm co-founder steps down from board of China’s largest chipmaker tech moves A former president of British tech giant Arm has given up his role on the board of China’s largest chipmaker today, as semiconductor supply scales government agendas from East to West. In a LinkedIn post today, Arm co-founder Tudor Brown wrote: “A bittersweet day today. After nine years I resigned from SMIC board. Sad to [...]
The over-hyped madness of the metaverse and the forgotten value of video long read The metaverse and Virtual Reality have had the weight of a number of large big technology companies behind it in the last year, spearheaded by the likes of Apple, Facebook, and Microsoft. Not only did the industry see its proliferation increase substantially over the pandemic, but the hype has yet to deter, particularly with speculation [...]
Half of UK tech firms need greater support to scale, says report innovation Half of the UK’s technology companies are lacking in the support necessary to scale the business, according to a new report today. The UK has a thriving technology space, securing 54 IPOs which have collectively raised £3.2bn – with 37 of these taking place last year, the report by Tech Nation, a body for UK [...]
Apple supplier Foxconn ‘cautious’ about demand as inflations spreads August 10, 2022 Taiwanese Apple supplier Foxconn is “cautious” about upcoming demand, supply chains and operating performance, it’s chairman said today, as inflation spreads and tensions with China rise. Foxconn, also known as Hon Hai Technology Group, is one of the world’s biggest suppliers of semiconductors or computer chips. The Taiwanese tech giant hit a record half-year revenue [...]
Musk sells $7bn worth of Tesla shares as Twitter battle heads to trial August 10, 2022 Elon Musk has sold nearly $7bn (£5.7bn) worth of Tesla shares as his battle with Twitter over his botched takeover heads to court. Musk, tech entrepreneur and the world’s richest man, will head to trial on 17 October. Musk had sold $8.5bn (£7bn) worth of Tesla shares in April, assuring shareholders that he was not [...]
Intel adds pressure onto UK government over lack of computer chip strategy August 10, 2022 Intel has applied pressure on the government to get its semiconductor strategy published, as the UK continues to miss out on inward investment. The US passed a $52bn subsidy package to computer chipmakers just last month, following the European Union’s €45bn cash pot announced in January – leaving the UK’s lack of domestic policy frustrating [...]
British defence giant Qinetiq wins US military deal just a day after £490m Stateside takeover August 9, 2022 British defence technology giant Qinetiq has snagged a $45m (£37.1m) contract with the US military to provide cyber, intelligence, surveillance and reconnaissance services. The London-listed science and engineering firm, which will also provide communications, control and computers, over a one-year base period, with the option to extend by four more one-year terms. It comes just [...]
Biopharma snags over £30m windfall from Pfizer’s latest billion-dollar deal August 9, 2022 Life science debt investor Biopharma Credit has snagged a more than £30m windfall thanks to Pfizer’s latest billion-dollar deal. Pfizer, the US pharmaceutical giant behind one of the world’s most successful Covid-19 vaccines, confirmed yesterday that it has bought Global Blood Therapeutics for $5.4bn (£4.4bn), as the US pharmaceutical giant continues its Covid-19 cash spending [...]
Inmarsat and Viasat £5.4bn merger paused until CMA wraps up probe August 9, 2022 The £5.4bn takeover of British satellite giant Inmarsat by US rival Viasat has been put on hold until the UK’s competition watchdog completes a probe into the merger. The Competition and Markets Authority today officially launched an inquiry into the merger, having invited onlookers for comment in late July. The regulator will have until 5 [...]
Avast operating profit sink ahead of £7bn takeover August 9, 2022 Antivirus software giant Avast’s operating profit has sunk so far this year, as it looks set for a takeover by fellow cybersecurity heavyweight NortonLifeLock. Operating profit plunged by $54.2m (£44.8m), from $226.7m (£187.6m) to $172.6m ($142.8m), which bosses said had been driven by higher exceptional and other costs. While revenue inched 0.2 per cent higher [...]