Big tech shirks probe into income from scam ads – CityAM : CityAM October 29, 2021 Tech mega caps avoided a probe into how much money they earn from paid-for advertisements on their platforms for unregulated financial products. Responding to questions from the Treasury Committee, Facebook said: “Quantifying advertising revenue from companies not authorised by the FCA to promote a regulated financial product poses challenges.” Also Read: Eurozone growth smashes expectations [...]
Ex-Microsoft CEO Steve Ballmer becomes ninth member of $100bn club July 8, 2021 Former chief executive officer of tech giant Microsoft, Steve Ballmer, has become the world’s ninth person to join the coveted $100bn club. Now owning the NBA’s Los Angeles Clippers, Ballmer stepped down from the helm of Microsoft in 2014. The ex-tech giant boss has seen his wealth swell by $20.1bn this year alone, driven by [...]
Goldman Sachs exec who led consumer banking push due to exit September 23, 2021 A Goldman Sachs executive at the forefront of the company’s push into consumer banking is due to exit in October. Harit Talwar was the first employee of Marcus, the bank’s consumer lending business which now has 8m customers, $100bn (£72.8bn) in deposits and boasts partnerships with brands including Apple, Amazon, Walmart and General Motors. In [...]
Cazoo announces revenue boom as second-hand car demand soars October 26, 2021 Cazoo announces third-quarter success, as their offering resonates with second-hand buyers and a growing delivery culture. The used-car retailer report a growth in revenue up 267 per cent YoY, to £174.4m in Q3. Within this, retails revenues were up 207 per cent YoY, with a gross profit of £11.8m, up by £12.5m compared to Q3 [...]
Pensioners’ internet usage rockets by 69 per cent from pre-pandemic thanks to Squid Game and Bridgerton December 12, 2021 The popularity of Netflix dramas such as Squid Game, Bridgerton and Tiger King is driving a significant increase in internet usage among pensioners, according to new broadband usage data released by connectivity provider TalkTalk.
I’m not leaving this sofa: Takeaway orders soar during England goal-feast July 6, 2021 Football fans made over one million orders on JustEat over the course of Saturday evening as England waltzed past Ukraine in Rome. The match kicking off in the primetime slot of 8pm on a balmy Saturday evening encouraged 2,500 orders being placed per minute. The most popular order was burgers, followed by pizza. While the [...]
Amazon sues Pentagon over claims Trump to blame for failure to win $10bn defence contract December 9, 2019 Amazon has opened legal proceedings against the Pentagon, alleging that the online giant was denied a $10bn (£7.6bn) US defence contract due to US President Donald Trump’s personal vendetta against chief executive Jeff Bezos. In a court filing made public today, Amazon claimed that its failure to secure the contract was result of improper pressure [...]
ITV and Michael Grade eye Channel 4 takeover October 24, 2021 The former chief executive of Channel 4 Lord Grade and ITV are reportedly mulling takeover bids amid government plans to privatise the network. Lord Grade, who was at the helm of Channel 4 between 1988 and 1997 and also chaired the BBC and ITV, is considering snapping up the network The Times first reported. Earlier [...]
Dan Loeb’s Third Point rakes in $300m profit from Rivian IPO November 24, 2021 Dan Loeb’s hedge fund Third Point was one of several winners from electric vehicle startup Rivian’s blockbuster US IPO earlier this month, scoring a $300m profit as it hit the market. Third Point’s stake in Rivian, whose $100bn IPO was the biggest market debut in the world this year, was accumulated over the last twelve [...]
WhatsApp fined £193m by data protection watchdog September 2, 2021 WhatsApp has been ordered to pay a €225m (£193m) fine under a European data protection law. Facebook owned messaging platform has been accused of failing to be transparent about how it handled user data by the Irish Data Protection Commission. The data protection watchdog announced the decision today saying that WhatsApp had failed to adequately [...]