Facebook takes on Google and Amazon with cloud gaming launch October 26, 2020 Facebook has launched a free cloud gaming feature on its platform, becoming the latest tech giant to move into the lucrative games market. The social media site today said users will be able to stream games such as Asphalt 9: Legends and PGA Tour Golf Shootout on the Facebook app and browser with no download [...]
Ant Group to raise $34bn in world’s biggest stock market debut October 26, 2020 Ant Group is aiming to raise up to $34.4bn (£26.4bn) in what will be the world’s largest ever initial public offering, stock market filings confirmed today. The Chinese fintech firm is set to raise $17.2bn in both Shanghai and Hong Kong through the mammoth dual listing. Ant Group set the price tag for the Shanghai [...]
Customer generation platform MVF buys Appwiki amid online sales surge October 26, 2020 Digital customer generation platform MVF has bought Dutch software comparison site Appwiki amid a surge in the number of firms attempting to boost their online capabilities due to the coronavirus crisis. The acquisition, which will allow MVF to use Appwiki’s comparison technology, comes as demand for digital consumer generation has soared due to the acceleration [...]
Ant Group listing to be ‘world’s biggest’, Alibaba founder says October 24, 2020 The dual listing for Chinese fintech giant Ant Group will be the world’s biggest, Jack Ma, the billionaire founder of Alibaba, said. “It’s the first time that the pricing of such a big listing – the largest in human history – has been determined outside New York City” he told the Bund Summit in the [...]
Screenshot: Will the UK’s live music industry ever recover? October 23, 2020 A weekly column from City PM bringing you all the biggest stories and trends in technology, media and telecoms This week: ** Media Moment of the Week: Sky History gets tattoo regret ** Can the live music sector survive this crisis? ** The tide turns against Google Media Moment of the Week This week we [...]
US Senate committee votes to subpoena Twitter and Facebook bosses October 22, 2020 Top US lawmakers today voted to subpoena the chief executives of Twitter and Facebook after both platforms blocked controversial tabloid stories about Joe Biden’s son. Republicans on the US Senate judiciary committee approved the motion to haul in Jack Dorsey and Mark Zuckerberg unopposed today. Democrats on the committee had boycotted the meeting over the [...]
Fishing for likes: Facebook takes on Tinder as it rolls out dating service October 22, 2020 Facebook is ramping up the pressure on apps such as Tinder and Bumble as it rolls out a new dating feature. Facebook Dating was first launched in the US and 19 other countries last month, but will now be available to users in the UK and across Europe. The social media platform said the new [...]
Ant Group gets final approval for world’s biggest stock market float October 21, 2020 China’s Ant Group today won the final nod from regulators for its $35bn (£26.6bn) initial public offering, clearing the way for what could be the largest-ever stock market debut. The fintech giant, which is backed by Chinese ecommerce group Alibaba, today won approval from the country’s top securities watchdog for its registration in Shanghai. Ant [...]
Ericsson boosted by margin growth as China 5G tensions mount October 21, 2020 Ericsson today reported better-than-expected earnings for the third quarter as higher margins and the rollout of 5G in China helped boost trading. Shares in the Swedish telecoms group were up more than seven per cent today as its strategy of improving profitability saw gross margins hit their highest level in 14 years. Adjusted revenue grew [...]
Startup community Supernode merges with VC fund to invest in media-tech October 21, 2020 Investor and startup community Supernode has absorbed media-tech VC fund Rooks Nest Ventures in what it claims is an industry first. The creation of Supernode Global comes out of the £28m Rooks Nest Ventures fund, launched in 2017 by film producer Michael Sackler, and the community platform Supernode. The new venture will offer access to [...]
