Digital health firm Babylon mulls $4bn US stock market float February 24, 2021 Babylon is said to be weighing up a US initial public offering that could value the health app at $4bn (£2.8bn). The digital health firm, which offers remote consultations with doctors, has been approached by several bank cheque firms about going public via a Spac deal, Bloomberg reported. The London-based company is also thought to [...]
Sweden’s Embracer splurges up to $2.5bn on three gaming companies February 3, 2021 Swedish video game group Embracer has agreed to buy three gaming companies, including US-based Gearbox, the maker of first-person shooter game Borderlands, for up to $2.5bn in cash and stock. The company, known for games such as Darksiders and World War Z, will pay Gearbox $363m initially with a commitment to pay another $1bn in the next [...]
Big Tech hearing: Facebook, Google and Twitter face Congress grilling March 25, 2021 The chief executives of Facebook, Google and Twitter will be hauled in front of Congress again this afternoon to face questions about misinformation and extremism on their platforms. Mark Zuckerberg, Sundar Pichai and Jack Dorsey will appear before a virtual joint hearing of two subcommittees of the House Energy and Commerce Committee. It follows a [...]
China cracks down on tech giants with anti-monopoly laws November 11, 2020 China has outlined proposals for tough new regulations on tech giants, ramping up the pressure on powerful ecommerce sites and payment platforms such as Alibaba. The country’s State Administration for Market Regulation (SAMR) said the rules were designed to curb monopoly power and block companies from carrying out anti-competitive practices. The new laws are likely [...]
UK tech on track for second record-breaking year of Asian investment July 13, 2021 The booming UK tech sector received almost twice the amount of Asian capital in the first six months of 2021 as it did during the whole of 2020, paving the way for a second record year of regional investment. By the end of June, Asian and Middle Eastern investors funnelled over £1.7bn into UK tech [...]
Second-hand market ripens as China’s $3bn platform plots US IPO July 5, 2021 Tencent-backed online second-hand marketplace Beijing Zhuanzhuan Spirit Technology (BZST) is plotting a $400m funding round ahead of an initial public offering, according to reports. BZST, currently valued at $3bn, is trying to gauge interest from private equity and strategic investors, Bloomberg first reported, citing people familiar with the matter. The second-hand retailer is eyeing a [...]
The CMA sets out new regime for tech giants such as Google and Facebook December 8, 2020 The CMA sets out new regime for tech giants such as Google and Facebook
Banks warn of ‘significant’ losses after huge fire sale linked to Archegos March 29, 2021 A huge fire sale of individual stocks last week has seen Credit Suisse and Nomura shares plummet after warning of “significant” losses. On Friday shares in ViacomCBS and Discovery plunged 27 per cent alongside leading Chinese stocks, including Tencent and Alibaba. Over the weekend it was revealed there was a massive margin call on family [...]
NYSE reverts to original plan to delist Chinese telecoms firm January 6, 2021 The New York Stock Exchange has announced it will move forward with plans to delist three Chinese telecoms giants just days after u-turning. The exchange will remove US-traded shares of China Telecom, China Mobile and China Unicom “to comply with US law,” it said on Wednesday. The NYSE originally announced its delisting plans last week [...]
Tencent backs top AI startup in $24m injection May 20, 2019 A host of major businesses and venture capital firms have joined in a $24m (£18.9m) funding round for a Prowler.io, valuing the Cambridge artificial intelligence (AI) startup at $100m. Chinese media giant Tencent led the round, with publishing house Pearson and Monzo-backer Passion Capital also joining. Other investors included Amadeus Capital Partners, Atlantic Bridge, Cambridge [...]