Trump issues executive order against Tiktok and Wechat over China links August 7, 2020 US President Donald Trump has signed an executive order promising a ban on Chinese-owned apps such as Tiktok and Wechat within 45 days. The two apps must be removed from Apple and Google’s app stores and all business ceased with US companies by the deadline. Tiktok owner Bytedance is currently in negotiations over a sale [...]
Vivendi plots €30bn stock market listing for Universal Music Group February 13, 2021 Vivendi is planning to list Universal Music Group and distribute 60 per cent of its capital to investors by the end of the year as it looks to cash in on the rising value of music assets. The French media group today said it has set a minimum target of €30bn (£26bn) for the listing, [...]
Apple accuses Fortnite creator of ‘publicity stunt’ in app dispute September 16, 2020 Apple has said any damages experienced by Fortnite creator Epic Games after being removed from its App Store are “entirely self-inflicted”, as a legal battle between the two firms rages on. In new legal filings, Apple said Epic could immediately reverse the tech giant’s decision to ban the app by complying with the App Store’s [...]
London FOIL appoints Weightman’s partner as new president December 14, 2020 London FOIL has just appointed Ling Ong as their new president to lead the organisation through 2021. London FOIL is an arm of the Forum of Insurance Lawyers, concentrating on the global insurance and reinsurance markets. Ling Ong is also a partner at UK law firm, Weightmans. Ong has been appointed to replace the outgoing [...]
China sanctions Tory MPs in Uighur human rights abuse row March 26, 2021 China has imposed sanctions on nine UK individuals — including five Tory MPs — for spreading what it calls “lies and disinformation” about human rights abuses in the country. The Chinese foreign ministry today said it had sanctioned four organisations and nine individuals, including Conservative Party leader Iain Duncan Smith and the party’s Human Rights [...]
Netflix beats estimates as lockdown reels in 8.5m new subscribers January 19, 2021 Netflix hurtled past Wall Street estimates for the holiday season, the company announced today, as it reeled in record numbers of new customers stuck at home during lockdowns around the globe. The US firm added more than 8.5m paid subscribers in the four months to 31 December, beating analysts’ expectations of 6.1m. Shares rose 11.4 [...]
Wall Street dips on tech sell-off after FTSE 100 closes higher March 30, 2021 Wall Street closed in the red today following a sell-off of tech stocks as US Treasury yields hit a 15-month high. The S&P 500 and Dow Jones both dropped 0.3 per cent, while the Nasdaq slipped 0.1 per cent. It came after the FTSE 100 pushed higher following a volatile start to the week as [...]
Game of Thrones fans rage at Chinese tech firm Tencent after episode delayed May 20, 2019 Chinese Game of Thrones fans expressed their outrage with tech firm Tencent this morning after it postponed the airing of the final episode of the fantasy series. Tencent Video which owns the broadcast rights to the HBO show in China was scheduled to air the episode at 9am Beijing time (1am GMT). However, an hour [...]
Wall Street closes lower as inflation jitters spark broad sell-off May 11, 2021 US stocks closed lower today as rising commodity prices and labor shortages fed fears that despite reassurances from the US Federal Reserve, near-term price spikes could translate into longer-term inflation. While all three indexes pared their losses from session lows, the sell-off was fairly evenly dispersed across the sectors. The Dow Jones Industrial Average fell [...]
High-profile tech founders back $111m London startup fund November 30, 2020 A string of big-name tech founders including former Google boss Eric Schmidt are backing a new fund to invest in startups in the US and across Europe. London-based Firstminute Capital today unveiled a $111m (£83m) venture capital fund after securing support from some of the world’s top tech executives. More than 70 founders of billion-dollar [...]