Facebook hits back at Irish watchdog over data inquiry September 10, 2020 Facebook has criticised the Irish data regulator for issuing proceedings against the firm over how it transfers data between the EU and the US, following the scrapping of a major EU ruling this summer. The Irish Data Protection Commission (IPDC) is said to have given Facebook until the end of September to appeal its decision, [...]
India’s Reliance to woo Amazon with $20bn retail stake September 10, 2020 Indian digital giant Reliance is said to be considering offering Amazon a $20bn stake in its retail arm, as it tries to recruit more major tech brass to its roster of backers. Reliance is willing to sell a stake of up to 40 per cent in its retail business to the e-commerce giant, a person [...]
Credit Suisse to launch Revolut and N26 digital banking rival September 10, 2020 Credit Suisse is to launch a digital banking app to rival the likes of Revolut and N26, offering free foreign transactions and digital wealth management. The CSX app will challenge competitors on the Swiss bank’s home turf when it launches next month, before a potential expansion elsewhere. CSX will feature free online banking tools, including [...]
Games Workshop shares level up on expectations beat September 10, 2020 Shares in Games Workshop jumped more than 18 per cent today, after the retailer said trading for the most recent quarter came in ahead of expectations. Strong performance in its online segment has meant current estimates for the three months to the end of August show sales of approximately £90m, up from £78m year on [...]
Dunelm pulls final dividend as it forecasts a brighter 2021 September 10, 2020 Home furnishings retailer Dunelm has said it will not be issuing a final dividend this year, but said it had outperformed expectations despite the pandemic. It added that it expects to pay an interim dividend next year, provided it faces no further hits from renewed lockdown measures. Dunelm said today that profit before tax fell [...]
Microsoft appoints new UK boss as Rose shifts to Europe September 9, 2020 Microsoft has appointed its UK chief operating officer Clare Barclay as the country’s new chief executive, as current boss Cindy Rose switches focus. Barclay, who has been at the software giant for more than two decades, will oversee Microsoft’s commercial product, service and support offerings in the UK from 1 October. Her former roles include [...]
Tech rout wipes $13bn off Softbank’s market value September 9, 2020 A run of bad days on the stock exchange has taken around $13bn off the market capitalisation of Softbank, after investors grew concerned at its exposure to risky tech bets. Softbank’s shares closed down three per cent as markets shut in Tokyo today, extending a slump that has seen its share price fall around 10 [...]
Nintendo to ramp up Switch production by 20 per cent to handle demand September 9, 2020 Nintendo is said to have asked its suppliers to increase production of its popular Switch console by a further 20 per cent, after global lockdown measures caused an unprecedented spike in demand. The gaming giant has raised its production goal for the Switch to as much as 30m units for this fiscal year, people familiar [...]
Amazon pays just £293m in UK corporation tax despite revenue bounce September 9, 2020 Amazon paid out less than £300m in tax to HMRC last year, despite raking in an extra £3bn in revenue. The e-commerce giant said it paid £293m in direct tax — meaning contributions paid directly to the Treasury through levies such as corporation tax and business rates — in 2019, rising by more than a [...]
David Beckham’s e-sports team Guild to float in London September 9, 2020 David Beckham’s e-sports company is to list on the London Stock Exchange this autumn, raising £20m at a valuation of £50m. If successful, Guild Esports would become the first company of its kind to float in London. Former England captain Beckham is an original shareholder of the group, which was founded in September and launched [...]