Discoverie weathers UK economic storm with record orders November 23, 2022 British electronics designer and manufacturer Discoverie is hoping the size – and cost – of its products will be the key to weathering the UK’s economic storm. The London-listed company has seen its underlying operating profit rise more than a third to £25.6m in the past six months, while pre-tax profit boomed over 130 per [...]
Teens keep flocking to TikTok for book inspiration November 23, 2022 Youngsters say that TikTok has helped them rediscover their love for reading, as the tech giant continues to push into the book selling market. New research from the Publishers Association published today found that BookTok, the social media trend focusing on books and literature, is playing a key role in getting Gen-Z reading again. In a [...]
GSK blood cancer drug pulled from US market in major blow November 23, 2022 GlaxoSmithKline’s (GSK) blood cancer drug has been pulled from the US market, in a major blow to the British pharmaceutical giant’s reputation as it seeks to build out its oncology offering. The London-listed firm announced yesterday that the US Food and Drug Administration (FDA) had requested the company to withdraw the market authorisation for the [...]
Meta’s independent board overturns police requested music video ban November 22, 2022 Meta’s oversight board has overturned the decision to remove a UK drill music video clip from Instagram following a request from the Metropolitan Police. The board, which is designed to issue independent judgments on the Facebook owner, said the video ‘Secrets Not Safe’ by Chinx, which referenced gang shooting, was wrongly banned, stating that it [...]
Zoom shares down 90 per cent from pandemic high as it slashes revenue forecast November 22, 2022 Zoom’s share price continued to tumble a further nine per cent today, after the pandemic darling slashed its annual revenue forecast. The drop adds to its near 60 per cent fall in the year to date, with a 90 per cent plunge since October 2020. It comes as the tech firm struggles to adapt in [...]
Competition watchdog launches deeper probe into Apple and Google’s mobile dominance November 22, 2022 Competition regulators continue to cast their net towards Google and Apple, with a new in-depth investigation launched this morning over their mobile browser dominance. The Competition and Markets Authority (CMA) said it would be examining whether new rules are needed for users and developers in this space after it conducted a consultation. Around 97 per [...]
British defence titans boosted by global tensions November 22, 2022 Britain’s defence titans are benefiting heavily from the volatility sweeping the geopolitical stage, with profits on the rise, full-year outlooks cemented and blockbuster contracts in the pipeline. London-listed defence engineer Babcock today posted a underlying operating profit of £121.7m for the six-months ended to the end of September, compared to £115.3m a year earlier. Meanwhile [...]
Chancellor’s R&D tax relief cut for startups jeopardises UK innovation funding November 22, 2022 Most of the UK’s spending on research and development (R&D) hangs on the shoulders of businesses, leaving a sour taste in the mouths of startups following the Chancellor’s latest budget. The business sector contributed £44bn – the equivalent of 71 per cent – of R&D funding in 2020, followed by universities, which pumped in £13.9bn, [...]
UK set to become next AI superpower says new report November 22, 2022 The UK could be the next big global artificial intelligence superpower as the government leads the way with public sector investment. According to a new independent report carried out by WPI Economics, on behalf of software firm Splunk, the UK is forging ahead of its European rivals in many aspects of how it embeds data and [...]
Facebook owner Meta sued for selling personal data for ads November 21, 2022 Facebook owner Meta has been sued in the high court after claims that it disregarded the right to object against the collection of personal data to sell to advertisers. Human rights advocate Tanya O’Carroll alleges that the Silicon Valley giant has breached UK data laws by failing to respect her right to demand that it [...]
