Media and tech players in different states as we head into recession September 21, 2022 Summer is over and the nights are becoming longer. In addition, the increasing gloom on the weather front is matched by a similar gloom when it comes to the consumer. The rise of double-digit inflation, with skyrocketing energy bills, has dominated headlines and driven UK consumer confidence, according to GfK, down to historic low levels. [...]
French titan Schneider snatches Aveva in £9.5bn deal September 21, 2022 French industrial giant Schneider has snatched London-listed software developer Aveva in a £9.5bn deal. Schneider already owns a majority stake in the Cambridge developer as in 2017 it acquired 60 per cent of Aveva for £3bn. The £31 per-share deal, which implies an enterprise value of £10.2bn, was announced today by the companies. The offer [...]
Musk: Starlink will lobby for exemption to operate in Iran amidst sanctions September 20, 2022 Starlink will lobby for an exemption to operate in Iran despite the current sanctions, according to the network’s owner Elon Musk. He didn’t specify on Monday night who or which legal authority he planned to lobby to. The comments came night after he tweeted that the service was now active on “all continents, including Antarctica.” [...]
Rising fintech star explains why banks are rushing to jump on the lucrative BNPL bandwagon September 19, 2022 Virgin Money recently confirmed plans to enter Britain’s buy now, pay later (BNPL) market. The banking player is the latest player to start offering BNPL products, which generally can help people to spread the cost of purchases without adding to their overall cost. Earlier this year, another bank, NatWest, said that it planned to enter [...]
City exclusive: Brits leave Europeans trailing in digital banking September 18, 2022 Brits are significantly ahead of other Europeans in their embrace of digital forms of banking. New research, shared exclusively with City PM this morning, shows that people in the UK are nearly twice as likely as other Europeans to prefer applying for financial products and services online via website or app, including through online chat [...]
Mobile games to dominate a £400bn gaming industry by 2030 September 15, 2022 Mobile games will make up half of gaming industry revenues in 2030, as tech firms continue to pump money into the sector. According to a fresh report from GlobalData, games played on smartphones and tablets will make up over 50 per cent by 2030. It also predicts that the market will swell to $470bn (£409bn) [...]
OnlyFans should fork out more UK VAT for its subscribers, EU advises September 15, 2022 OnlyFans has been told by EU court advisors that it may need to fork out VAT on the full amount paid by subscribers, not just a discounted sum. OnlyFans’ parent firm Fenix took an initial grievance about VAT to a UK tribunal after HRMC ordered the UK based firm to pay VAT on all the [...]
Drop in Covid-19 vaccine demand swings Oxford Biomedica to a loss September 15, 2022 A drop in Covid-19 vaccine demand and manufacturing has swung British biotech firm Oxford Biomedica to a revenue loss in the half of the year. The London-listed firm, which worked with AstraZeneca’s to produce its Covid-19 vaccine, has revenue slip more than 20 per cent to £64m in the six moths to 30 June, down [...]
EU upholds record fine against Google over Android forcing it to cough up £3.5bn September 14, 2022 The EU has largely upheld its record antitrust fine against Google this morning, marking a major blow for the tech giant.
M&A Roundup: HY 2022 September 13, 2022 | City Talk This year has been challenging on many levels – inflation is impacting economic demand, the cost of living crises carries on, and the war in Ukraine continues. However, in terms of M&A, EMEA is withstanding the headwinds rather well. Per Mergermarket figures, deal count totalled 4,963 compared with 6,182 in H1 2021, a fall of [...]
