Govt drags feet with new digital markets bill October 25, 2022 A new report by MPs on the Business, Energy and Industrial Strategy Committee has called on the Government to push forward with a draft Digital Markets Bill that would allow regulators to take a more proactive approach to curbing big tech dominance. The bill would enshrine the Competition and Markets Authority’s (CMA) Digital Markets Unit (DMU) [...]
Watchdog eyes Big Tech push into UK financial services sector October 25, 2022 The presence of Big Tech in the UK’s financial services market has caught the eyes of the regulator. The Financial Conduct Authority (FCA) is seeking views on the possible competition harms and benefits of the Big Tech push into financial services sectors and the infrastructure on which it is based. Sheldon Mills, executive director of [...]
Beauty parade? Dyson to invest half a billion in expanding grooming offering October 25, 2022 Engineering giant Dyson is set to invest half a billion into expanding its range of beauty products, as the technology and beauty industries converge. The British company’s Airwrap hairstyler, which has graced the beauty tables of most internet influencers, has been a best-seller for several years now. And has prompted popular ‘dupes’ from the likes of Revolution [...]
Immersive Gamebox inks £80m worth of franchise deals as ex-PizzaHut chief steps in October 25, 2022 London gaming platform group Immersive Gamebox has inked nearly £80m worth of franchise deals over the next three years. The deals will see the company, which has bases in London Southbank and Wandsworth, expand to more than 250 locations. The company has recently appointed a new chief operating officer, former Pizza Hut and BrewDog executive [...]
Tech stocks get ready for a rocky road ahead October 24, 2022 BIG TECH braces itself for another testing earnings season, as the biggest names in Silicon Valley post their quarterly figures this week. Kicking off the tumble last Friday, Snapchat posted a rocky quarter, citing squeezed ad spend and ongoing macroeconomic uncertainty as the main driver. Not only has Snapchat’s parent firm lost a quarter of [...]
Former Google boss says regulation must focus on choice rather than tech interference October 24, 2022 Former Google ads boss said the government needs do more to restrict market dominance, but shouldn’t interfere too much with how the tech ecosystem actually works. Speaking with City PM, former Silicon Valley exec turned search-engine startup founder Sridhar Ramaswamy said that regulators need to find a balance between keeping behemoths like Apple and Google [...]
Google searches for inflation surge by 1000 per cent and overtake Coronavirus October 24, 2022 Google searches for inflation have now overtaken people concerned by Coronavirus. Between July and October of this year, searches for inflation have surged by more than 1000 per cent compared to last year. This comes as the UK, US and large parts of Europe are gripped by soaring energy and food prices due in part [...]
Rumour mill: Musk takeover spells mass job cuts for Twitter staff October 21, 2022 Elon Musk has told prospective investors that he plans to axe nearly 75 per cent of Twitter’s staff, as the billionaire continues to push forward with a takeover deal. According to reports from the Washington Post, although HR teams have reassured employees that mass layoffs were not coming any time soon, documents showed that plans [...]
YouTube bets on personalisation as the online video giant copies Twitter handles October 21, 2022 Youtube said it would be introducing handles in the coming weeks to make it easier for members of the community to find and connect with each other. In an announcement today, the Google-owned video site said handles will be unique to each channel and will be how people mention each other in comments, community posts, [...]
Advertising cuts continue to sting Snapchat October 21, 2022 Snapchat’s growth continued to plateau this quarter as the advertising slump continues for the social media company. Falling well below most Wall Street estimates, Snap’s said revenue climbed a humble six per cent to $1,13bn, while net losses widened from $72m to $360m. Adjusted earnings before interest, taxes, depreciation, and amortisation was $73m, compared to [...]
