Warren Buffett reveals over $4bn stake in world’s largest chipmaker TSMC November 15, 2022 American business magnate Warren Buffett’s Berkshire Hathaway has revealed a $4.1bn (£3.4bn) stake in the world’s largest chipmaker, in a rare big bet on tech. Shares in Taiwan Semiconductor Manufacturing Company (TSMC) rose 7.8 per cent to $480 (£405) a share by the time Taipei’s market closed, on the back of Buffett weight in investment [...]
Defence giant BAE Systems secures £28bn worth of orders so far this year November 15, 2022 BAE Systems, one of the largest defence companies in the UK, has secured £10bn worth of orders in the second half of this year so far. The London-listed defence firm, which builds military-grade jets, submarines and satellites, has kept its guidance in place while many businesses in the UK nudge them lower amid the economic [...]
OakNorth boss: Government must lure investors to lock-in homegrown tech firms November 14, 2022 The government must lure investors to the UK if it is to lock-in homegrown tech firms, the co-founder of London-based fintech OakNorth has said. London, which was today overtaken by Paris as Europe’s biggest stock market, has been “having a tough time convincing technology companies to list here,” Rishi Khosla wrote in The Times today. [...]
Amazon to slash 10,000 corporate and tech jobs – reports November 14, 2022 E-commerce behemoth Amazon is mulling laying off around 10,000 people, it has been reported, amid a torrid slew of tech lay-offs last week. According to a report in The New York Times, redundancies for corporate and technology roles could begin as early as this week, people with knowledge of the matter said. This would mark [...]
British battery firm Zenobe to invest £750m in diversifying UK energy grid November 14, 2022 British battery-storage firm Zenobe has tabled plans to invest £750m into the UK’s bid to diversify its energy grid. The company is looking to build three large battery projects in Scotland between 2024 and 2026, Bloomberg first reported, which would boost wind power resources in the countries. The UK is hoping to more than triple [...]
SpaceX snaps up Twitter advertising package in push from Musk November 14, 2022 Elon Musk owned SpaceX has snapped up a Twitter advertising package, as the new ‘Chief Twit’ continues to drive a greater focus on profitability and revenue for the social media firm. In a tweet this morning, SpaceX founder Musk said the firm’s satellite arm Starlink had “bought a tiny – not large – ad package” [...]
AstraZeneca’s battle against cancer knocks on door of EU with three new drugs November 14, 2022 AstraZeneca, the pharmaceutical giant behind one of the world’s first Covid-19 vaccines, has had three new cancer drugs recommended for approval in the European Union. The FTSE 100 pharma firm said its drug Imfinzi – for uses against biliary tract cancer alongside chemotherapy, gastric cancer medicine Enhertu and prostate cancer treatment Lynparza, in combination with [...]
US pharma giants to merge under $145m deal to tackle opioid overdose epidemic November 14, 2022 Indivior, a US pharmaceutical heavyweight, has bought addiction and overdose treatment competitor Opiant Pharmaceuticals for $145m (£123m) The FTSE 250 pharma firm is coughing up some $20.00 per share in cash upfront, Indivior said in a statement today. Plus, a further $8.00 a piece should revenue milestones be achieved over the next seven years. Both [...]
Roche shares dip as hope for long-awaited Alzheimer’s drug quickly fades November 14, 2022 Shares in Swiss pharmaceutical giant dipped today after disappointing results from its late-stage Alzheimer’s drug. The drug, known as Gantenerumab, was seen as a high-risk but high-reward drug, according to Sebastian Skeet, senior healthcare analyst at investment research firm Third Bridge. However, the treatment failed to slow the progression of dementia across two ongoing trials. [...]
Home working with poor broadband costs UK £60bn per year November 14, 2022 Working from home with a poor broadband connection is costing the UK’s economy £60bn per year, according to a recent research. Figures from software company Actual Experience showed that technical issues with broadband – including delays and call dropouts – have led to an average loss of £1,000 per worker. IT issues created problems especially [...]