Nadine Dorries claims big tech firms are ‘too powerful’ and have secret ‘dials’ to control the internet UK Politics Former culture secretary Nadine Dorries claimed “Big Tech” is “becoming too powerful in all areas of daily life”.
Natwest profits soar but customers withdraw £1bn as cost of living and tax bills bite BANKING Natwest has beaten profit expectations during the first three months of this year. Natwest Group, which includes Royal Bank of Scotland and Ulster Bank, recorded a pretax profit of £1.8bn in the three months ending 31 March. The total comes in ahead of analysts’ expectations of £1.6bn for the quarter and ahead of the £1.2bn during [...]
Post SVB reforms to UK banking regulation leaves sector divided Banking Regulation Figures in the banking sector are divided over suggested reform to deposit protection, with regulators reported to be mulling raising the deposit insurance threshold in the wake of the collapse of Silicon Valley Bank (SVB) last month. According to a report from the Financial Times, regulators are considering updating the Financial Services Compensation Scheme (FSCS) [...]
Banks, bonds, inflation, recession and energy: Five lessons the markets taught us this week March 17, 2023 The third week of March proved to be a rollercoaster for the world’s investors, with a rout on banks and the spectre of inflation, recession and the growing cost of living making their presence felt. These themes may indeed play on in future, so here are the five lessons we’ve learned from the markets this [...]
Recession off the cards, getting over 50s ‘back to work’, strikes and banks take stock – the five best read stories on City A.M. this week March 17, 2023 It was the week UK Chancellor Jeremy Hunt laid out his first Spring Budget, but as pension savers and taxpayers looked on, fears of a recession appeared to fade, although the sagas of banks Silicon Valley Bank, Credit Suisse and on-going strikes raged on; here are the stories readers were flocking to on City A.M. [...]
All eyes on Silicon Valley as Big Tech braces itself for a tense earnings week July 25, 2022 2022 has undoubtedly been a year of turbulence for tech stocks, battling major sell-offs and supply chain woes.
UK to take ‘back seat’ as EU leads the way for Big Tech regulation June 20, 2022 Departing chief of the UK competition watchdog has warned that the UK risks falling behind its European cousins after the government backtracked on giving the regulator enhanced powers to hold Big Tech to account. Speaking to the Financial Times, Andrea Coscelli said that the UK will become a “rule taker” rather than leader in this [...]
Reality is finally catching up with overblown Silicon Valley rhetoric September 26, 2019 Rhetoric, the art of persuasion, was the backbone of a classical education. Today the term is more often pejorative: rhetoric is found wherever reality isn’t. No fantasy, however, can be long sustained. If rhetoric is to deliver its original purpose and persuade, it cannot escape reality for long. So Silicon Valley is discovering. For over [...]
Linkedin share price jumps as revenue beats expectations July 30, 2015 Linkedin's second quarter figures exceeded expectations by a long way, and investors were delighted. The figures From April to June, the professional networking site's revenue was $712m (£456m) – a 33.3 per cent increase from the year before. This was better than the $680m analysts were expecting. Read more: LinkedIn share price plummets as second [...]
PayPal valued at just under $50bn as it soars past EBay on Nasdaq July 21, 2015 After its first day back as an independent company, PayPal is valued just under $50bn (£34bn). Read more: EBay revenue jumps 7pc as PayPal spinoff draws near The online payments company's share price closed up 5.43 per cent on its first day of trading after splitting from parent eBay, after initially soaring 11 per cent in [...]