Tech giants plunge in value after weak earnings October 29, 2022 US tech giants have had more than $250bn wiped off their value in the past week as investors fled in the wake of a weak set of quarterly earnings and warnings of an advertising slowdown.
Safety tech firms get £350k boost to tackle ‘plague’ of online child abuse June 15, 2023 Safety tech firms are set to receive a £350,000 investment to help tackle the “plague” of online child abuse. Researchers have revealed UK firms boast a 25 per cent market share of the global safety tech sector, as three UK start-ups win government cash to rocket power their innovation. Tech minister Paul Scully said: “The [...]
Glantus: Another listed tech firm set to go private as KKR-Accel vehicle completes raid August 14, 2023 London-listed software outfit Glantus is set to go private after receiving a £17.8m offer from the KKR-Accel-backed Basware. The boards of directors of both companies have reached an agreement on the deal, which values Glantus at around £17.8m and implies a total enterprise value of £29.5m. Under the proposed deal, Glantus shareholders will receive £0.3342 [...]
Lloyds swoops in for ING’s tech leader as its new COO December 15, 2022 Lloyds has swooped in for the top brass at ING as the lender announces a Ron van Kemenade as its new Chief Operating Officer (COO). He will join next year from ING where was chief technology officer and a member of its executive committee. Charlie Nunn, CEO at Lloyds Banking Group, said: “This is a [...]
Aerospace tech supplier Chemring boosted by rising defence budgets December 13, 2022 Aerospace tech supplier Chemring has had its order intake grow by nearly a third, as governments upped their defence spending in the past year. The London-listed group recorded £551.5m worth of orders in the 12-month period, which boosted revenue to £442.8m. Order intake for Chemring’s countermeasures and energetics division, which includes rocket components, decoys and [...]
Facing the failure of Silicon Valley Bank is an existential moment in tech firm financing March 13, 2023 As thousands of firms faced a cliff edge after the collapse of Silicon Valley Bank, Jeremy Hunt’s response is a test of how much they really cherish British start ups, writes Tommy Ricketts.
Tech stocks get ready for a rocky road ahead October 24, 2022 BIG TECH braces itself for another testing earnings season, as the biggest names in Silicon Valley post their quarterly figures this week. Kicking off the tumble last Friday, Snapchat posted a rocky quarter, citing squeezed ad spend and ongoing macroeconomic uncertainty as the main driver. Not only has Snapchat’s parent firm lost a quarter of [...]
Letters: An Israeli flavour of tech success August 3, 2022 [Re: UK in talks with Israel for post-Brexit trade deal as £34bn contract up for grabs, July 20] A new trade deal between Britain and Israel, focusing on the enormous potential in the latter’s services industry, will augment the UK’s booming tech scene through competition. The Israeli tech ecosystem, with over 6,000 active start-ups, is [...]
European IPO tech slump: London comes out on top December 7, 2022 The European tech industry has lost more than $400bn (£327bn) in value as dealmaking ground to a halt this year amid ongoing economic uncertainty. According to a report by London-based Atomico, tech startups across Europe are on track to raise $85bn (£70bn) in funding this year, down $15bn (£12bn) on 2021 levels. The report said [...]
All eyes on former hydrogen darling ITM Power’s results amid turbulence for green tech players August 15, 2023 ITM Power will finally unveil its results on Thursday this week, with the troubled hydrogen specialist delaying the announcement this summer.