Twitter plans to sue following Musk’s withdrawal from $44bn takeover July 9, 2022 Twitter has announced it will sue Elon Musk if he refuses to go ahead with his $44bn takeover. Chairman Bret Taylor said the company’s board was “committed to closing the transaction” agreed upon with the serial entrepreneur and it would plan “to pursue legal action to enforce the merger agreement.” Under the agreement’s terms, Musk [...]
EU’s stamp of approval for digital laws risks putting the UK behind July 7, 2022 The European Parliament gave the Digital Services Act (DSA) and the Digital Markets Act (DMA) the final green light this week, setting out key obligations on Big Tech.
‘Covid-19 cliff edge’: Lateral flow test maker suffers major blow to revenue July 7, 2022 Clinical diagnostics specialist Novacyt has suffered a major blow to its revenue, as the feared ‘Covid-19 cliff edge’ comes into focus “faster than expected”. The London-listed company, which provides lateral flow tests, has seen its revenue crumble more than 70 per cent to £16.5m in the first half of this year, compared to £52.2m a year [...]
GSK shareholders give Haleon split the green light July 7, 2022 Shareholders in British pharmaceutical giant GlaxoSmithKline (GSK) gave its historic demerger the “expected” seal of approval yesterday, meaning its consumer division will be able to list on the London Stock Exchange as a separate entity later this month. In the most significant corporate change at GSK for the last two decades, the split will see [...]
UK competition watchdog opens EU copycat investigation into Amazon July 6, 2022 The UK competition watchdog launched an investigation into whether Amazon has a dominant market position this morning and if it was abusing this power. The Competition and Markets Authority’s (CMA) probe will hinge on whether the US giant is giving an unfair advantage to its own retail business or sellers, compared to other third-party sellers [...]
Ofcom ‘bares its teeth’ with new roadmap for new online safety laws July 6, 2022 Ofcom has urged tech firms to start preparing now for new online safety rules, setting out a plan for the first 100 days of the regime.
New research warns fresh Digital Markets Unit risks stifling UK innovation July 6, 2022 A new report has warned that proposals to introduce a new Digital Markets Unit (DMU), housed at the Competition and Markets Authority (CMA), will have dire consequences for innovation, investment and dynamism in the digital sector.
Government is failing to incentivise chip manufacturers to remain on UK soil, say tech leaders July 6, 2022 The government is failing to properly entice semiconductor companies to remain on UK soil, tech leaders told ministers yesterday. Simon Thomas, CEO of Paragraf, a manufacturer of advanced semiconductors made of graphene, accused the Department of International Trade (DIT) of sending “mixed signals” and warned that the UK risks being side-lined as bullish efforts by [...]
OneWeb wins unanimous approval for ‘historic’ push into Brazil July 5, 2022 Taxpayer-backed satellite giant OneWeb has won unanimous approval from Brazil’s telecommunications watchdog for landing rights in the country, in a “historic” milestone for the company. It means the British communications darling can build satellite hubs known as gateways, critical pieces of infrastructure for solid satellite connection across Latin America and the Caribbean. The 15-year deal, [...]
EU set to overhaul listing rules as competition for tech IPOs intensifies July 5, 2022 The European Union is looking to overhaul listing rules to allow founders to retain more control after going public, in a bid to tempt more tech firms into floating in the bloc.
