Tech stocks in a valley February 4, 2022 Just when Silicon Valley thought things couldn’t get any worse, they did. Meta tanked over 25 per cent on Wall Street yesterday, losing around $200bn (£147bn) in value, dragging the tech-heavy Nasdaq down along with it.
Cheer up Mark, the share price might have done better in the metaverse… February 4, 2022 Meta faced its worst single-day wipeout yesterday, as shares plunged over 25 per cent, slashing $220bn (£162bn) off the company’s value. It comes after Facebook’s owner reported dismal results on Wednesday night, citing Apple’s privacy changes and “increasing competition” as the key drivers for its demise. “Meta’s quarterly results confirmed what investors were already worried [...]
EU aims to tighten data curbs on non-EU governments February 3, 2022 New European law will start requiring cloud services, like Amazon and Microsoft, to set up safeguards against illegal data transfers to non-EU governments, as the EU continues to rein in US tech giants. According to reports by Reuters, the European Commission’s Data Act, which is set to be published at the end of this month, [...]
Nintendo sales and profits slip as demand for Switch consoles dries up February 3, 2022 Nintendo’s sales and profits have slipped, as momentum for its Switch console wanes and it continues to battle a shortage of semiconductor chips. The Japanese gaming giant pulled in £2.3bn in profit in the nine months through December, which dipped 2.5 per cent from the year prior. Nintendo’s sales have continued to sink since [...]
UK gambling regulator clamps down on illegal Facebook lotteries February 3, 2022 The Gambling Commission have shut down hundreds of illegal lotteries operating on Facebook, as the regulator aims to protect vulnerable social media users.
UK unveils cash pot for young space entrepreneurs February 3, 2022 The government has opened the gates to a new cash pot for young space entrepreneurs, ahead of the country’s first-ever launches from UK soil this year. The £50,000 prize money up for grabs will see entrepreneurs between the ages of 11 and 22 present their ideas to a panel of ‘dragons’ from across the UK [...]
New Covid-19 vaccine wins regulatory approval in UK February 3, 2022 A new Covid-19 vaccine has been approved by the UK’s medicines watchdog, making it the fifth jab to be authorised for use in the country. The Nuvaxovid vaccine, developed by US biotech firm Novavax, will add another string to the UK’s vaccine bow, with 71 per cent of the population having received at least two [...]
Australia’s richest man files lawsuit against Facebook over scam ads February 3, 2022 Facebook is in hot water once again after an Australian billionaire launched legal proceedings against parent company Meta. Iron ore magnate Andrew Forrest today confirmed the launch of criminal proceedings against Meta in an Australian court, alleging that it breached anti-money laundering laws and let its platform be used to scam Australians. The Fortescue metals [...]
Interview: Zoom beyond lockdown February 3, 2022 Zoom CIO Harry Moseley talks to Leah Montebello about the firm beyond Covid-19
Vodafone chief calls for consolidation amid fears European mobile operators are falling behind February 2, 2022 Vodafone chief urges policymakers to allow European mobile operators to merge and consolidate as firms feel mounting pressure. European telecoms companies face a bill of up to €300bn to roll out super fast 5G across the continent, which some argue is made harder by regulators demanding multiple operators compete in each market to keep consumer [...]