Net zero is important to most businesses but few track supply chain emissions, finds Deloitte November 9, 2022 Net zero is continuing to fall to the bottom of the priority list for most organisations in the UK despite glowing pledges, according to a report by Deloitte today. Just a quarter of public and private sector bodies track emissions across their supply chain, also known as scope 3 emissions, the report in collaboration with [...]
Facebook and WhatsApp owner Meta cuts 11,000 jobs November 9, 2022 Over 600 UK Meta employees could lose their jobs as the owner of Facebook launches its biggest job cull in history, cutting 11,000 jobs worldwide. In a note published this morning, chief exec Mark Zuckerberg said he would be reducing the global headcount by 13 per cent, regarding it as “some of the most difficult [...]
EQT Ventures eyes UK investment spree with £970m fund November 9, 2022 Sweden’s EQT Ventures said it was eyeing up a UK investment spree today after it bucked a downturn in the market to raise $1.1bn (£970m) to pump into early-stage tech firms across Europe.
Novavax dials back revenue expectations despite Covid-19 jab success November 9, 2022 Novavax, an American biotech firm, has dialled back its revenue expectations, despite roaring success from its Covid-19 vaccine. In a statement last night, the company announced that it now forecasts full year revenue to be on the low end of its previously forecast range of between $2bn (£1.7bn) and $2.3bn (£2bn). The company, which was [...]
EU opens probe into Microsoft’s £59bn deal to buy Call of Duty maker Activision Blizzard November 8, 2022 The European Commission has opened an in-depth investigation into Microsoft’s proposed $68.7bn (£59.5bn) acquisition of Call of Duty maker Activision Blizzard. The commission said it was concerned that the proposed deal may reduce competition in the market. A preliminary investigation found that the transaction may significantly reduce competition, including multi-game subscription services and cloud game [...]
Government urged to sign off policy ensuring more EVs are on the road by 2024 November 8, 2022 A string of large electric vehicle (EV) players are lobbying the government to ink a mandate which would ensure a certain proportion of cars on the road in the UK are electric by 2024. A dozen businesses, including Ford, Britishvolt and Pod Point, have written to transport secretary Mark Harper and business minister Grant Shapps [...]
Twitter pauses paid blue-tick launch for US midterms November 8, 2022 Twitter confirmed that it would be delaying the rollout of its paid-for verification until after the US midterm elections, temporarily abating fears about fake account misinformation campaigns. As the new social media chief, Elon Musk has laid out plans to allow users to purchase blue-tick verification for their profiles – a privilege that is usually [...]
Richard Branson facing US lawsuit is sign of the times for the young space industry November 8, 2022 The lawsuit Richard Branson is facing in the US over claims he hid Virgin Galactic’s problems from shareholders is a sign of the times, as investors become rattled by a young market’s growing pains. The British billionaire has been accused of defrauding shareholders into overpaying for the space tourism company’s shares, a US judge said [...]
Nvidia seeks to maintain chip relationship with China despite US export ban November 8, 2022 Nvidia, one of the largest American chipmakers, has sought to maintain its trade relationship with China despite the US’ export ban with a new graphics chip. The company has started production on a computer processor for China, known as A800 GPU, which abides by the new rules that aim to limit the country’s access [...]
Beximco Pharma warns of ‘little to no revenues’ from Covid-19 jab deal with Bangladesh November 8, 2022 Beximco Pharmaceutical shares have slipped after the company warned of “little to no revenues” from its deal with the government of Bangladesh for Covid-19 vaccines. The London-listed company, which last year sealed the deal for a majority stake in Sanofi’s Bangladeshi business, had been supplying the AztraZeneca/ Oxford vaccine to the government of Bangladesh (GOB). [...]