Offer for ‘cutting edge’ UK firm from Thoma Bravo signals another blow for the London Stock ExchangeBusiness live – latest updatesThe Cambridge-based cybersecurity and artificial intelligence company Darktrace is likely to become the latest British technology champion to be swallowed up by a US suitor, after it agreed a $5.3bn (£4.2bn) sale to US private equity business Thoma Bravo.Darktrace, whose co-founding investor Mike Lynch is now on trial for fraud and conspiracy in the US, agreed to an offer 44% higher than its average share price over the past three months. Continue reading...
Inquiry hears firm ‘drip fed’ compensation to Martin Griffiths’ widow as incentive for her to ‘maintain confidentialty’The Post Office sought to “hush up” the case of Martin Griffiths, a post office operator who took his own life, by “drip feeding” compensation payments to his widow and lining up a media lawyer to protect its reputation, a public inquiry has heard.Angela van den Bogerd, a former business improvement director at the state-owned body, was being questioned at the Horizon IT public inquiry on Friday about the case of Griffiths, who died in 2013 after financial shortfalls were foun[...]
Collections by ex-Spice Girl had been too dear for most but deal with affordable chain forecast to help tip VB business into profitWhen Victoria Beckham debuted her first collection of just 10 dresses in a luxury hotel suite at the Waldorf Astoria in New York in 2008, she told the sceptical assembly of the world’s most powerful fashion editors that she had “spent a lifetime wanting to do this”.“It’s what I always dreamed of since I customised my school uniform when I was 7 years old,” she said. “Then along came the Spice Girls which opened a lot of doors for me. And, let’s be honest, closed a [...]
Tech company’s shares rise as it plans to reward investors after strong quarterly results Google’s parent company has hit a stock market value of $2tn (£1.6tn) as investors reacted to a declaration of its first ever dividend alongside strong results on Thursday.Shares in Alphabet rose 10% in early Wall Street trading on Friday to give the tech group a stock market capitalisation – a measure of a corporation’s value – of more than $2tn. Alphabet last hit that level in intraday trading in 2021, but has yet to close above that benchmark after a day’s trading. Continue reading...
Investor’s move comes amid reports RedBird IMI is to formally withdraw its attempt to buy the newspaperThe GB News investor Sir Paul Marshall is stepping down from the board of the broadcaster after three years, it was announced on Friday.Marshall is expected to be a frontrunner in the race to buy the Telegraph when the auction process reopens, after the government in effect scuppered its planned sale of the newspaper to a United Arab Emirates-backed consortium, RedBird IMI. Continue reading...
EV sales have plateaued across the world but the newfound glut of vehicles may just be temporaryElon Musk became the world’s richest man by evangelising about electric cars – and delivering them by the million. Yet in recent months his company, Tesla, has struggled to maintain its momentum: sales have dropped this year, and so has its share price.Those struggles have become emblematic of a broader reckoning facing the electric vehicle (EV) industry. After the soaring demand and valuations of the coronavirus pandemic years, the pace of sales growth has slowed. The industry has entered a new pha[...]
Bulk carrier uses deep-water channel en route to Canada marking important step in recovery efforts after last month’s disasterThe first cargo ship passed through a newly opened deep-water channel in Baltimore after being stuck in the harbor since the Francis Scott Key Bridge collapsed four weeks ago, killing a work crew and halting most maritime traffic through the city’s port.The Balsa 94, a bulk carrier sailing under a Panama flag, passed through the new 35ft channel headed for Saint John, New Brunswick, Canada, on Thursday. Two more commercial ships followed later, including a vehicle carri[...]
Employment tribunal sought over claims firm tried to induce workers to leave union in long-running rowThe GMB is taking legal action against Amazon in the long-running battle for recognition at its Coventry warehouse, accusing the US firm of trying to “induce” staff to leave the union.An employment tribunal claim is being lodged on behalf of five workers at the large site, known as BHX4. Continue reading...
Secretary of state met Xi Jinping in Beijing and warned of sanctions over China’s support for Russian arms industryWashington has seen evidence of attempts by Beijing to “influence and arguably interfere” in this year’s US elections, the secretary of state has said during a trip to China, also warning that Chinese companies face new sanctions if they do not stop supplying material and equipment to the Russian arms industry.Antony Blinken told CNN that he had reiterated Joe Biden’s message to Xi Jinping not to interfere in November’s vote – a warning that reportedly received assurances from the[...]
For first time since August 2021 people expect position to be better in a year, Paul Thwaite addsConsumer confidence is bouncing back in the UK, with people predicting a brighter financial future for the first time in two years, NatWest has said.Paul Thwaite, the bank’s chief executive, said easing price pressures as inflation comes down seemed to be feeding through to the general public. Headline consumer price inflation is still above the Bank of England’s 2% target at 3.2% but has fallen sharply from a peak of 11.1% in October 2022. Natwest’s own economic forecast suggests inflation will fa[...]
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Government says it met Virgin O2 chief executive and Ofcom after incidents last year
Pietro Labriola secures fresh mandate after phone carrier averted clash with biggest shareholder Vivendi at AGM
Country’s largest share sale draws investors including GQG Partners and Fidelity
Secondment marks first move by telecoms group’s new CEO Allison Kirkby in her turnaround push
Only those shorting the shares would be winners if KKR’s purchase is scuppered
Telecoms group joins growing list of companies plugging shortfalls from state electricity provider
Small Melbourne-based telecoms company is thriving with investment from the country’s largest bank
Group wants existing agreements with landlords to be extended to automatically permit full-fibre upgrades
Fierce competition has hammered the market’s economics
Competition and Markets Authority gives companies days to resolve concerns that merger will reduce choice
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Combined market value of the two tech giants rose by more than $250bn after revenue growth beat expectations
Shares of Google’s parent company jump after first-quarter earnings beat expectations and $70bn stock buyback
Director says technology at some point will ‘write a script, direct a movie’
The cyber specialist has had a bumpy three-year ride as a public company
Microsoft is the company showing most tangible proof of AI revenue generation from hefty investments
Tech group’s shares up 3% a day after better than expected earnings report
While Investor Relations just want to top up their tans
The FT’s fifth annual ranking of the region’s businesses by revenue growth. Plus: outsourcers tap into remote work boom; Shopify targets more growth from bigger clients; Brazil’s alternative to electric vehicles; and Vertex Pharmaceutical’s potential answer to the opioid crisis
Agencies providing overseas-based staff for US clients have prospered
The ecommerce platform for millions of merchants has ambitious plans to expand at the high end
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