Spotify posts its first quarterly profit as paid subscriptions near 100m February 6, 2019 Spotify has made its first ever quarterly profit, it said today, as it revealed results for the three months to the end of December. The figures The Stockholm-based firm posted an operating profit of €94m (£82.5m), as well as a 29 per cent rise in revenue in the fourth quarter thanks to an increased number of paid [...]
Apple still in violation of Chinese court order, insists Qualcomm December 18, 2018 Qualcomm has said it believes Apple to still be in violation of a Chinese court order to stop selling certain iPhone models, despite a software update pushed through by the tech giant yesterday. The Californian company is currently embroiled in an ongoing global dispute with chipmaker Qualcomm, of which the court order is just one [...]
Another chapter ends in the surreal adventures of Julian Assange April 12, 2019 It is false and defamatory to suggest that Julian Assange lives, or has ever lived, in a basement, cupboard, or under the stairs. The same applies to suggesting that the Wikileaks co-founder filed a lawsuit against Ecuador over laundry, used a skateboard in the Ecuadorian embassy, or failed to look after his cat. And so, [...]
Johnson & Johnson shares plunge in wake of asbestos report December 15, 2018 Johnson & Johnson saw its share price plummeted by more than 10 per cent on Friday following a report from Reuters that claimed the US pharmaceutical company had known about asbestos tainting in its talcum powder products for decades. The report comes as the company are facing thousands of lawsuits, which claim that their products have caused cancer. The [...]
Judge orders White House to hand back CNN correspondent’s press pass after tiff with Trump November 16, 2018 CNN correspondent Jim Acosta has won the battle to have his White House ban lifted – temporarily at least. After lawyers from CNN and the Trump administration battled it out for over two hours in court today, Judge Timothy Kelly granted the network's requests for Acosta to be allowed back into the White House. CNN had requested [...]
White House admits defeat in CNN battle but outlines new rules for journalists November 20, 2018 The White House has issued new rules for reporters as it backed down in a row with CNN and reinstated the press pass of journalist Jim Acosta. In a letter sent to Acosta yesterday the White House outlined new guidelines saying reporters may only ask a single-question at press conferences, and follow-ups will only be [...]
Tesla in legal row with investors over Elon Musk’s plan to go private | City A.M. August 13, 2018 Tesla is facing a barrage of lawsuits from investors angry at founder Elon Musk’s shock proposal to take the company private at $420 (£329) a share. The colourful entrepreneur dropped the bombshell on social media last week, claiming that funding for the move had been secured, driving shares up 11 per cent before its price [...]
Campbell Soup reaches deal with activist investor to stop battle over board November 26, 2018 Campbell Soup has ended a months-long battle with Third Point by promising the activist investor can choose two new board members. The hedge fund, which will now have a say in selecting Campbell’s new chief executive, has been locked into a dispute with the soup maker over its struggling share price and a takeover spree which [...]
Pret A Manger agrees payout with US staff who claim they were short changed October 28, 2018 Pret A Manger will pay almost $1m (£779,000) to US workers who claim they were underpaid while working for the company. The sandwich chain has been accused of rounding down the hours that staff at its New York outlets were reimbursed for. It is the second time the UK-based firm has been hit by accusations [...]
Fyre Festival, influencers, and the CMA – why are regulators finally getting involved in the world of social media sponsorship? February 4, 2019 Social media influencers are back in the headlines, and as usual, it’s for all the wrong reasons. Late last month, the government’s Competition and Markets Authority (CMA) announced that it had told 16 high-profile celebrities – including models Alexa Chung and Rosie Huntington-Whiteley, musician Rita Ora, and YouTube star Zoe Sugg (better known as Zoella) [...]