UK coronavirus lockdown: Consumers spend more on video games and online shopping April 20, 2020 Britons have been spending more on video games and with Amazon, Apple and Argos during the UK coronavirus lockdown, according to the latest research. Digital bank Starling said its customers spent almost 300 per cent more on Playstation and Nintendo in the week ending 5 April compared to the week to 15 March, before the [...]
Financial markets continue to hang on two Vs: vaccine and virus February 9, 2021 Global equities bounced strongly last week, gaining nearly 5 per cent and more than reversing their losses from the previous week. Stock markets ended the week at new highs and opened again higher yesterday. The market correction ended up lasting no more than a week. “So too did the surge in GameStock which has fallen back [...]
Bertelsmann snaps up Simon & Schuster in $2.2bn deal November 25, 2020 The German media group behind Penguin Random House has acquired US publisher Simon & Schuster for $2.2bn (£1.6bn). Bertelsmann today confirmed it had secured the deal with owner Viacom CBS following a closely-fought bidding war. The takeover cements Bertelsmann’s position as the world’s largest book publisher, and strengthens its footprint in the US — its [...]
Explainer: How will the BBC change in the next five years? March 30, 2021 The BBC this week published its annual plan, outlining its strategy and financial targets as it looks to adapt to major shifts in the media landscape. It comes at a tough time for the public service broadcaster, which is facing declining viewer numbers and a political row over its licence fee funding model, as well [...]
New BBC boss promises ‘urgent reform’ amid pressure over funding September 1, 2020 The new director general of the BBC has promised to keep reforming the public service broadcaster “with urgency” as he faces a fierce debate over its funding model. Tim Davie, who took up the top job today, acknowledged that the corporation faced challenges, but insisted it remained relevant in the modern media landscape. “Overall my [...]
Government paying test and trace consultants equivalent of £1.5m salary October 14, 2020 The UK government is paying some management consultants the equivalent of more than a million pounds a year to work on the coronavirus test and trace system that its own scientists have criticised. Some senior-ranking consultants at Boston Consulting Group (BCG) are being paid around £7,000 a day, Sky News reported. That would amount to [...]
Zoom revenue surges as video conferencing app cashes in on Covid-19 June 3, 2020 Zoom has reported a huge surge in revenue for the first quarter as the video conferencing app enjoys booming demand during the coronavirus lockdown. The California-based company posted revenue of $328.2m (£260.8m) in the first three months of the year, an increase of 169 per cent on the same period in 2019. Zoom also lifted [...]
Black British Business Awards announces 2020 finalists August 4, 2020 The Black British Business Awards has announced its 2020 finalists, who have been selected for their outstanding business talent. The award recognises rising stars and leaders across industries, including financial services and professional services. The Black British Business Awards say the finalists have been picked as they “embody the Black British community’s ability to prevail, [...]
Pizza Express to cut up to 1,100 jobs after enforced store closures August 18, 2020 Pizza Express has unveiled plans to close 73 of its restaurants in a move that places 1,100 jobs at risk. The dining chain confirmed on Tuesday that it had finalised a proposal to reduce its restaurant and rental costs via a company voluntary arrangement (CVA). The company, which has around 470 sites throughout the UK, [...]
Collapse of global digital tax talks could cost $100bn, OECD warns October 12, 2020 The global economy could shed more than one per cent of output if international talks to rewrite cross-border tax rules break down and trigger trade wards, the OECD warned today. Nearly 140 countries agreed last week to extend talks on the first major rewriting of cross-border tax rules in a generation to mid-2021 after the [...]