Altice ups stake in BT – but ‘does not intend’ to launch takeover bid May 23, 2023 Altice, the French telecoms firm, will up its stake in BT to 24.5 per cent, but it “does not intend” to make a takeover bid. The group owned by billionaire Patrick Drahi is BT’s largest shareholder, and said that it will acquire a further 650m shares, increasing its ownership to 2.5bn. It comes just a [...]
Vice Media files for US bankruptcy protection ahead of sale May 15, 2023 Media company Vice has filed for bankruptcy protection in the US after bosses struggled to find a buyer for the innovative news firm. The Chapter 11 filing at a court in New York is setting the stage for the company’s creditors to take control over the business. It marks a fall from grace for the [...]
Royal Mail delivery target failures to be investigated by Ofcom – and a fine could be dished out May 15, 2023 Regulator Ofcom said it has launched an investigation into Royal Mail’s failure to meet its delivery targets in the past year – and could hand out a fine. The British delivery firm fell short of its performance targets across the 2022 to 2023 financial year for first and second class mail and deliveries. Some 73.7 [...]
M&G calls bosses back into the office – and they can’t be TWaTs about it May 14, 2023 Investment firm M&G has called on its managers to get back in the office for three days a week in a bid to boost the morale and development of its junior staff - but they won't be allowed to simply swan in on Tuesdays, Wednesdays and Thursdays.
Elon Musk announces successor as Twitter chief – and that it’s now called X Corp May 12, 2023 Elon Musk said that he has found a new CEO for Twitter, or X Corp, as it is now called. He did not initially name the person but said she will be starting in about six weeks when the announcement was made on Thursday. On Friday he took to the site to say the new [...]
Ukraine’s Eurovision Song Contest in Liverpool: Is Moscow competing, can Russia vote and are they broadcasting it? May 12, 2023 The 67th Eurovision Song Contest is taking place in Liverpool this year after the UK was chosen to host on behalf of war-torn Ukraine. It is the first time the competition has been held in the UK for 25 years – and Russia will not be competing. Why is Russia absent from the contest? Russia, [...]
ITV: Love Island and I’m A Celeb help maker reports 10 per cent ad revenue drop – and warns it’s only getting tougher May 11, 2023 ITV is looking for Love Island and the Rugby World Cup to boost revenues, which fell 10 per cent year on year in the first quarter. The broadcaster revealed a 10 per cent drop in advertising revenues and warned trading will get tougher in the second quarter as firms rein in marketing spend against a [...]
Reach sales slump: Mirror, Express and Star publisher says Facebook changes hit digital ads hard May 3, 2023 News publisher Reach reported a slump in sales for the first quarter of 2023, with digital revenue hit by changes to how Facebook presents its news content, the company said on Wednesday. The publisher — those titles include the Mirror, Express and Daily Star — said revenue fell by 5.9 per cent in the four [...]
Thomson Reuters reports higher sales as it sells stakes in businesses May 2, 2023 Thomson Reuters reported higher revenue growth than expected today as the company sold off stakes in other businesses. The news and information conglomerate reported revenue growth of four per cent, jumping to $1.7bn (£1.4bn), beating analyst estimates, the firm said in a quarterly update. The company also earned $2.3bn (£1.8bn) from the sell-off of 24.5 [...]
Disney to cut thousands of jobs this week, reports say April 24, 2023 Disney will cut thousands of jobs this week, taking the total number of layoffs to 4,000, according to media reports. Disney first announced it would start axing jobs in February as part of a $5.5bn (£4.54bn) cost-cutting drive under chief executive, Bob Iger. Iger – who returned as Disney’s chief in November following the tumultuous [...]
