Satellite duo in reported merge talks amid wave of sector consolidation August 4, 2022 A pair of US and Luxembourg-based satellite giants are reportedly in talks to merge, as the increasingly scrutinised sector undergoes a wave of consolidation. SES and stateside group Intelsat are in discussions, the Financial Times first reported yesterday. People familiar with the matter stressed that talks are still in their early stages. It follows UK [...]
Alibaba posts flat revenue growth after ‘relatively slow’ spring August 4, 2022 E-commerce group Alibaba has posted flat revenue growth for the first time. The Hong-Kong based firm said sales in Chinese commerce dropped one per cent compared to the past year while revenue from its cloud business saw revenue up 16 per cent. The group’s revenue hit 205.56bn yuan ($30bn) in the April to June period, [...]
UK defence and aerospace firms risk being outpaced in STEM skills shortage August 4, 2022 The UK’s defence and aerospace sectors are continuing to be squeezed by a shortage in STEM talent, leaving ‘high-trust’ businesses vulnerable to being outpaced by overseas counterparts. The UK Commission for Employment and Skills revealed earlier this year that 43 per cent of STEM vacancies were hard to fill due to a shortage of applicants, [...]
Defence giant Meggitt’s order book value teeters around £1bn ahead of takeover August 4, 2022 Meggitt’s orders are up nearly 50 per cent, teetering around the £1bn mark, as the British defence manufacturer undergoes a foreign takeover. The London-listed firm’s order book has been valued at £996.9m in the six months to 30 June, up from £671.4m in the same period last year, Meggitt revealed today. Revenue has jumped more [...]
New prime minister must up R&D funding or risk ushering in ‘low skilled’ economy August 4, 2022 The next prime minister must up the UK’s spending on science research and development (R&D) or risk losing its standing as a global leader, Tory-backed think tank Onward has urged today. In a report, supported by several MPs including former science minister George Freeman, Onward said the lack of spending risks damaging the UK’s core [...]
Battery sustainability firm plots overseas growth after snagging approval for lithium storage box August 3, 2022 Battery sustainability firm Technology Minerals has snagged UN-standard approval for its lithium-ion storage boxes and is now looking to scale its new business overseas. The London-headquartered firm’s new business, known as Recyclus, can “now go live” with the new ADR certification, executive chairman Robin Brundle told Morning Wire today, which means it can operate across Europe. While [...]
UK pharma industry still suffering skills shortages despite progress August 3, 2022 The UK’s pharmaceutical industry is still suffering from skills shortages, despite recent progresses, the UK’s industry body warned today. “We’ve made progress in addressing some of the skills gaps that pharmaceutical companies have faced in recent years, with rapid improvements in areas such as biological and chemical science,” director of corporate affairs at the Association [...]
US tries to lure chipmakers away from expansion in China with $52bn subsidy package August 3, 2022 The US has tried to incentivise chipmakers to not expand any further into countries like China and Russia, which is forecast to hit TSMC and Intel. Under the Chips and Science Act, which the White House is expected to sign this month, the US will offer semiconductor manufacturers access to $52bn (£42.5bn) worth of subsidies. [...]
Revenues climb for Keywords Studio as it snaps up Mighty Games in market share push August 3, 2022 Revenues climbed 34 per cent to €320m for Keywords Studio as the video game giant announces a fresh acquisition of Mighty Games.
Influencer push: Head of Instagram heads to London to help drive creator content August 2, 2022 The head of Instagram is set to move temporarily to London as the social media giant tries to keep up with the TikTok influencer wave.